07 Sep Parkland to Acquire Tropic Oil Company
Tropic Oil Company, Inc., a market leading fuel and lubricant business with operations in Florida, announced today that it has entered into an acquisition agreement with Parkland through its U.S. based subsidiary ("Parkland USA”). Parkland is one of North America and the Caribbean’s fastest growing independent suppliers and marketers of fuel and petroleum products.
Tropic Oil, headquartered in Miami, transports, distributes and markets a full range of fuels, lubricants, and equipment to the marine, automotive, trucking and aviation industries. Tropic Oil operates and supplies nine cardlock facilities, three bulk storage plants, 200,000 sq. ft. of warehouse space, two dedicated rail spurs and 80 trucks throughout Central and South Florida.
“Through Tropic Oil, Parkland USA is adding its third Regional Operating Center (ROC) and expanding its presence outside of the Western states for the first time. Tropic Oil is highly regarded for its ability to provide consistent, reliable service throughout the central and south Florida markets,” said Doug Haugh, President of Parkland USA. “We view Tropic Oil as the gateway to the Caribbean and South America, as this new Southeast ROC will serve as a platform company that connects and leverages our SOL business in meaningful ways. We thank George LeVasser, Tropic’s CEO and welcome Steve Gorey, president of Tropic Oil and our new General Manager of the ROC, and his team to Parkland.”
The acquisition is expected to close on or about Oct. 1, 2019.
Tropic Oil will retain its name and its brand and will operate under Parkland USA, a division of Parkland comprising several of Parkland’s wholly owned subsidiaries.
News source: http://maritime-executive.com Go to original post