RaceTrac announced this week it is vastly expanding its reach across the U.S. by acquiring Gulf Oil’s fleet of gas stations and convenience stores.
Metroplex Energy, a subsidiary of Atlanta-based RaceTrac, will acquire Massachusetts-based Gulf Oil LLC later this year for an undisclosed price. It’s the largest corporate acquisition by RaceTrac, which has its headquarters located in Vinings.
While not as iconic of an Atlanta brand as Delta Air Lines or Coca-Cola, RaceTrac has based its operations in Atlanta since the 1970s, growing into Georgia’s second-largest privately held company.
Here are five things worth knowing about RaceTrac and its Gulf Oil deal.
1. New gas station locations
Across 12 states, RaceTrac and its subsidiary RaceWay operate nearly 800 locations. With the Gulf Oil acquisition, that network will grow to approximately 2,000 locations across nearly 40 states and Puerto Rico.
2. New license agreements
As part of the transaction, Metroplex will acquire Gulf Oil’s existing distributor and license agreements. In addition, Metroplex will retain Gulf Oil’s exclusive rights to market fuel at Gulf Oil’s retail locations along the Massachusetts Turnpike.
3. Gulf Oil’s branding
Gulf Oil was once a global powerhouse within the fossil fuel industry. The original Gulf Oil, which was among the Seven Sisters of oil, went through a merger and rebranding in 1985, rebranding as Chevron. Gulf Oil LLC acquired the Gulf brand for $13 billion following the merger.
4. Growing employee base
Before the acquisition, RaceTrac and its partner companies employed more than 10,200 workers. Gulf Oil does not disclose its employee base.
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