(ATLANTA, Ga.) — Georgia’s second largest private employer RaceTrac Inc. has announced the acquisition of Gulf Oil LLC, adding Gulf’s existing gas stations into the RaceTrac network.
The Atlanta Journal-Constitution reports that Metroplex Energy, a subsidiary of RaceTrac, announced the deal in a Wednesday press release. When Metroplex signed the rule, it marked the largest corporate acquisition that RaceTrac has made to date.
Gulf Oil was once one of the largest fossil fuel companies in the country, as one of the Seven Sisters dominant in the world at the time. Corporate consolidations resulted in the merger of Standard Oil of California and Gulf Oil in 1985, creating Chevron.
Gulf Oil LLC acquired the Gulf brand for $13 billion, following the merger.
The deal is subject to customary closing conditions, including approval under the Hart-Scott-Rodino Act. Financial terms are not being disclosed, and the deal is expected to close within 2-3 months.
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