Roberts-Gibson, P & J Petroleum in 'Synergistic Merger'
Published in CSP Daily News
Deal allows Tenn.-based petroleum wholesalers to strategically extend geographic coverage
DYERSBURG, Tenn. -- Roberts-Gibson Inc. of Dyersburg, Tenn., has announced the successful merger with P & J Petroleum LLC of Greenfield, Tenn. Both companies are established commercial petroleum wholesalers with operational coverage in Arkansas, Kentucky, Mississippi, Missouri and Tennessee.
This synergistic merger enables the combined company to better serve existing clientele and strategically extend its distribution coverage.
"We are sincerely excited about the opportunity to merge our two quality operations and derive valuable operational savings, while significantly expanding our geographic coverage. We look forward to working with Pat and Judy to fully develop this new business relationship" said Tim Gibson, president of Roberts-Gibson.
P & J Petroleum is owned by sisters Judy Huffstetler and Pat Overton, who together built the business over many years. Overton's daughter, Shea Mix, will assume an expanded sales management role in the combined entity.
"Both Pat and I are happy that we were able to finalize this merger and are excited to work with the Roberts-Gibson team to fully integrate our operations to achieve our targeted sales and profitability objectives" said Huffstetler.
PetroActive Real Estate Services was the official advisor to this business transaction. "We are happy that we were able to assist the process in order to achieve a mutually acceptable outcome for all parties. We are confident that given the professionalism and chemistry exhibited by both sides during the negotiations, bigger and better things are in store for the company going forward," said Mark Radosevich, president of PetroActive Services, Coral Gables, Fla.