Atlas Oil Acquires Gas Stations, Supply Contracts From Hadi Group
TAYLOR, Mich. -- Atlas Oil Co. purchased virtually all of the assets of the Hadi Group Distributors Inc., Hadi Petroleum Transporter Inc., C & H Land Co. LLC, Fordson Consumer Center Inc. and A & G Land Co.
Included in the transaction are 20 retail gas stations and up to 50 retail fuel supply contracts that are predominantly branded Marathon and Speedy. All of the sites are located throughout the Detroit area.
"Our goal is to help our newest customers rebuild their businesses and recapture lost volume," said Sam Simon, CEO and owner of Atlas Oil. "We understand the struggles they have been through and welcome them to the Atlas family."
Atlas Oil purchased the Hadi Group assets under section 363 of the U.S. Bankruptcy Code. The sale price was not disclosed.
"Atlas Oil has a long history in the retail gas station business and we are pleased that we can use our expertise to help bring these 20 retail sites back to profitability," said Michael Evans, executive vice president of retail and real estate for the Taylor, Mich.-based company. "We will work with existing store managers and personnel to ensure that the sites have a plan to improve their operations and restore their viability in the community."
Atlas Oil operates the Earth Market brand of convenience stores in the Chicago market and also supplies fuel to nearly 400 gas stations throughout Illinois, Indiana, Michigan and Ohio.