Empire Petroleum Announces Second Acquisition This Month

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Empire Petroleum Announces Second Acquisition This Month

01/14/2013

GATHERSBURG, Md. -- Empire Petroleum Partners LLC completed its second acquisition this month by purchasing the fuel distribution rights of Besche Oil Co., a Waldorf, Md.-based distributor that supplies branded and unbranded fuel to gas stations throughout eastern Maryland.

This deal expands Empire's presence in its home state and continues to increase its business partnerships with Sunoco and CITGO, the company said.

"The Besche Oil acquisition illustrates Empire's continued ability to exercise on our growth plans, especially in our local market," stated Empire President and CEO Eli Kimel. "We have been very familiar with the Besche assets for many years, and we believe that these assets and their operational strategies will fit in well with our goals in this region." In order to make the transition as seamless as possible, Empire has hired Paul Colonna, Besche Oil's vice president of motor fuels, to serve the Besche accounts as an Empire representative.

"My family has spent decades building our business. However, when I decided it was time to exit the industry, Empire seemed to be the best suitor to purchase the company," said Mike Besche, owner of Besche Oil.

Earlier this month, Empire Petroleum acquired the gasoline wholesale distribution assets of Richmond, Va.-based Woodfin Heating Inc.