Fuel distributor Cary Oil has acquired two regional fuel contract portfolios, expanding its presence in the Midwest and Southeast and increasing its branded retail network to 1,000 independently owned convenience store locations.
The first deal, finalized on February 19, includes more than 90 branded fuel supply contracts in Indiana, Illinois, and Kentucky. The assets were previously operated by Ricker Oil/Giant Eagle, a regional marketer known for its network of branded retail fuel sites and independent operators. As part of the transaction, two employees from Ricker Oil/Giant Eagle—Kristina Castor and Brian Dyke—joined Cary Oil.
On June 26, Cary completed a second acquisition, taking over branded fuel supply contracts for eight Shell-branded retailers in the Memphis, Tennessee market. Those contracts were previously held by McGinnis Oil, a family-owned company with longstanding operations in the region.
“These acquisitions represent a meaningful step in Cary Oil’s long-term growth strategy,” said R. Mark Maddox, Cary Oil president and CEO.
The company said the new locations will be integrated into its branded programs and supported through its existing logistics and infrastructure network.
Maddox added that Cary’s ability to execute transactions of this scale reflects the company’s financial position and history of partnering with independent operators. “We deeply respect the family-owned businesses that entrust their legacy to us, and we work to ensure a smooth transition for their customers and communities,” he said.
Founded in 1959, Cary Oil is a privately held fuel wholesaler operating in 21 states and distributes 1 billion gallons of fuel annually.
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