Atlas Oil Completes Acquisition of Clark Units

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Atlas Oil Completes Acquisition of Clark Units

07/04/2003
TAYLOR, Mich. -- Atlas Oil Co., through its affiliate company, Fast Track Ventures Acquisition LLC, completed the previously announced acquisition of 52 Clark convenience stores and gas stations in Michigan and Ohio.

In addition, Atlas Oil acquired the Clark Brand License rights for its territory in Michigan and Ohio.

Over the past 14 months, Atlas Oil and its affiliated companies have acquired 75retail convenience store and gas stations from the bankrupt Clark Retail Group. In addition, Atlas Oil is Clark's largest distributor in the country supplying over 90 Clark retail locations.

Simon Holdings, through its operating companies, Atlas Oil and B&R Oil Co. is a leading distributor of petroleum products to commercial customers and service stations in Michigan, Ohio and Indiana and through its real estate investment business, Fast Track Ventures, acquires, develops and operates gasoline and convenience store locations throughout the Midwest. In addition to the Clark site acquisitions, Simon Holdings purchased B&R Oil in South Bend, Ind. last year adding 70 Phillips 66 locations to its portfolio.