Majors Management and its affiliates have acquired eight convenience stores and several dealer supply accounts from Osan Petroleum Company and its affiliates.
This acquisition further increases Majors’ existing presence in Georgia, the US.
Majors president Ben Smith said: “This is Majors’ ninth acquisition in the last twenty months and our third acquisition of 2020. Our team is thrilled to have worked with Bob Oswald and the team at OSAN to complete this transaction in under ten weeks. We welcome OSAN’s customers to the Majors family, and we are always pleased to expand our presence in our home state of Georgia.”
Majors founder and CEO Marvin Hewatt said: “The addition of these sites to Majors’ network is further evidence of our ability to close transactions quickly, efficiently and without disruption to the underlying businesses.”
In October, through the acquisition of retail fuel distribution business of Regal Oil, Majors added 14 convenience stores and additional dealer supply contracts to its supply network.
In February, Majors bought the retail fuel distribution business of The McPherson Companies, a deal that gave it almost 200 retail fuel supply contracts.
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As part of its growth strategy, Majors expects to close several additional acquisitions in 2021.
For this deal, PetroActive Real Estate Services provided exclusive advisory services for Osan.
PetroActive president Mark Radosevich said: “We sincerely appreciate the opportunity afforded by Bob Oswald and his family to allow my firm to represent them and help facilitate a successful outcome. Finalising this transaction before the end of the year is a testament to the commitment and professionalism of both the OSAN and Majors teams, working to overcome obstacles in a dedicated win-win fashion.”
Majors Management, along with its affiliates, supplies fuel to more than 700 convenience store locations. It is an owner, developer and operator of conveniences stores and a distributor of motor fuels.