Delek Completes Williamson Oil Co. Acquisition

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Delek Completes Williamson Oil Co. Acquisition

FRANKLIN, Tenn. -- Delek US Holdings Inc. completed its previously announced acquisition of Williamson Oil Co. Inc., a convenience store operator and petroleum distributor in Alabama. MAPCO Family Centers Inc., a wholly-owned subsidiary of Delek US, has acquired Williamson Oil’s retail operations including 100 convenience stores as well as its wholesale fuel distribution business. This acquisition adds to Delek US’s existing regional presence and brings the chain to a combined total of 343 stores operating in eight states in the Southeastern United States.

Delek US, headquartered in Franklin, Tenn., consists of a network of 243 convenience stores. The company operates 207 stores under the Mapco Express brand name and 36 stores under the East Coast brand name. The company’s stores are primarily concentrated in and around three divisions located in Memphis and Nashville, Tenn., and Richmond, Va. Delek US was formed in April 2001 as a platform to capitalize upon acquisition opportunities in the highly fragmented convenience store industry.

Based in Fort Payne, Ala., Williamson Oil consists of 89 company-operated convenience stores and 11 stores operated by independent dealers. All of Williamson Oil’s retail stores operate under the Discount Food Mart brand name and sell fuel under multiple brands including Chevron, Exxon, Shell, Discount Food Mart and Victory Fuels. Further, Williamson provides wholesale distribution of gasoline and other refined fuels to 77 third-party dealers located in several southeastern states. The wholesale fuel business combined with Williamson Oil’s convenience stores sell over 100 million gallons each year. Annual revenues of Williamson Oil exceed $200 million.

Uzi Yemin, president of Delek US, previously stated that "the transaction presents an excellent opportunity for Delek US to grow its existing platform and further its consolidation strategy. The acquisition of Williamson Oil will provide Delek US with significant strategic benefits given the company’s large base of high-quality stores, wholesale petroleum distribution business, geographic concentration and proximity to our existing markets."

Following the acquisition of Williamson Oil, combined annual revenues and gallons sold will be approximately $886 million and $375 million, respectively. Delek US seeks to significantly expand its existing network through several acquisitions over the next five years. The company will target acquisitions in Alabama, Arkansas, Florida, Georgia Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Texas, in addition to Tennessee and Virginia.