RaceTrac wraps up acquisition of Gulf Oil to expand fuel retail presence

RaceTrac, Inc., a family-owned leader in the convenience store industry, has officially completed the acquisition of Gulf Oil, LLC, a move that was previously announced in July. The transaction, which has received all necessary regulatory approvals and satisfied closing conditions, marks a significant expansion for RaceTrac.

RaceTrac Acquires Gulf Oil’s Iconic Brand

With this acquisition, RaceTrac not only acquires Gulf Oil’s iconic brand in the United States and Puerto Rico but also takes over approximately 1,100 Gulf Oil-branded sites. The deal also includes exclusive rights to market fuel at eleven Massachusetts Turnpike service plaza locations, significantly increasing RaceTrac’s geographic footprint.

RaceTrac CEO Max McBrayer expressed excitement over the acquisition, emphasizing the opportunity for growth through geographic expansion, scale, and diversification. He highlighted Gulf Oil’s century-long legacy of quality and dependability, committing to stewarding this legacy into its second century.

Gulf Oil Joins RaceTrac Family in a Strategic Move to Strengthen Fuel Network

Leadership and Transition Strategy

To ensure a smooth transition, Metroplex Energy, RaceTrac’s wholesale fuel supply and trading subsidiary, has appointed Ron Sabia as the Chief Operating Officer of the acquired Gulf OIl entity and head of the Gulf OIl business unit. Sabia’s vast experience in the fuel industry, including his tenure as president of Gulf Oil, L.P., positions him as a strategic leader to guide Gulf Oil under RaceTrac’s umbrella.

AJ Siccardi, president of Metroplex, sees this acquisition as a historic opportunity for Gulf Oil to excel in the evolving retail fuel marketplace. He noted that the combination of Gulf Oil’s extensive distributor network and Metroplex’s expertise in fuel supply creates vast possibilities for current and future distributors and licensees.

RaceTrac’s Growth and Strategy

This acquisition is a key part of RaceTrac’s ongoing strategy to accelerate growth in its core business activities and drive enhanced operating efficiencies. The integration of Metroplex Energy and Gulf Oil creates a formidable fuel network with a significant presence in high-demand markets across the country.

The current RaceTrac locations will maintain their offerings and guest experiences, unaffected by the deal. The acquisition introduces the opportunity to serve guests at an additional 1,100 locations under the Gulf Oil brand, further solidifying RaceTrac’s position in the market. Financial details of the transaction were not disclosed.