Jerry’s Oil Company
Jerry’s Oil Company, Inc. divests its dealer supply business to United Fuel, LLC.
Denmark, Tennessee – Long time CITGO and Valero branded marketer, Jerry’s Oil Company, Inc. has divested its entire branded and unbranded dealer supply business as part of a strategic industry exit. “The decision to sell our dealer business was tough to make but it was an important first step in our long term retirement plans. My bucket list includes so many things that I’ve never gotten around to doing because the oil business simply takes up so much of my time,” said Jerry Wilhite, company owner and president. “I’m looking forward to starting a new chapter in my life and am confident that my dealers are in very good hands with the United Fuel people.” added Wilhite.
Jerry’s Oil Company, Inc. was founded in 1978 as a fuel wholesaler delivering fuel to one company operated c-store and one supply transport. Over the next decade, the company expanded to fourteen stores and six transports. Later the company decided to exit direct store operations and move to a dealer supply operational model, including the sale of most of the stores to its dealers. Today, the company operates eight transports and two tank wagons supplying fuel to retail locations in both Arkansas and Tennessee, some commercial customers and a single interstate convenience store directly owned and operated by the Wilhite family.
The sale allows Georgia marketer, United Fuel, LLC to expand its CITGO dealer network, add Valero to its portfolio of major oil brands and extend westward into the Memphis geographic area. “We are very happy to have successfully concluded the acquisition of the Jerry’s Oil dealer business and welcome these dealers as our new customers. As a customer focused company, we look forward to demonstrating our commitment to quality service and to supporting their long term business success. We look forward to a long and mutually rewarding business relationship,” stated Bunty Doshi, president of United Fuel, LLC.
PetroActive Real Estate Services, LLC provided confidential advisory services to Jerry’s Oil Company for this transaction. “Success in today’s highly competitive dealer supply environment takes relentless focus and attention to the business. Jerry devoted his heart and soul to insure that his business not only survived, but prospered. We wish him well as he begins this exciting new phase of his life and are happy that we were able to make it happen.” stated Mark Radosevich, president of PetroActive Services.
Frank T. Callaway (email@example.com) provided legal representation to Jerry’s Oil and closed the transaction. His firm is based in Atlanta and specializes in downstream petroleum distribution and real estate transactions.
Murphy Business and Financial Services, LLC provided advisory services to United Fuel for this transaction. Mark Purtee, representative for Murphy Business, summarized the transaction by stating, “Jerry built a solid oil dealer business, and Bunty will now continue to build on that strong foundation. It was a pleasure to be part of a great team of professionals representing both companies. As a result of a smooth transition, Jerry’s dealers will quickly enjoy the same prompt customer service and benefit from some new efficiencies that United Fuel will begin to implement.”