Americana Petroleum Sells Business to Atlantis Management Group
MOUNT VERNON, N.Y. — Atlantis Management Group LLC (AMG) acquired Americana Petroleum Corp. and Major Fuel Carriers Corp.
The deal consists of a collection of retail gas locations with convenience stores and/or service bays, a wholesale fuels business and delivery trucks. The retail sites are a mix of company-operated and tenant-operated locations selling Sunoco's Coastal fuel brand.
All of the assets are in Suffolk County, N.Y.
Americana Petroleum was established in 1978, and for the past 15 months has been managed by Frank Mascolo Jr., son of the founder who passed away in June 2018.
"This sale transaction represents the culmination of over 40 years in business and is a tribute to my father's legacy in the fuels industry," he said.
Petroleum Equity Group (PEG) served as the lead advisor to Americana, and Petroleum Capital and Real Estate LLC (PetroCapRE) served as the lead advisor to AMG.
"We are thrilled to be the purchaser of Americana Petroleum and worked tirelessly with the Mascolo family and PEG to ensure a smooth transition," said Tumay Basaranlar, CEO of AMG.
Mount Vernon-based AMG is a private company that acquires, develops and operates branded gasoline service stations and convenience retail stores in the New York Tri-State area and Massachusetts. It controls more than 156 locations under either company-operated or independent dealer-operated models.