Mohawk Oil Exits Business With Sale
CHESTER, N.J. — Mohawk Oil Co. Inc. has reached a deal with Gill Energy as it moves to exit the fuels business after 87 years.
Matawan-based Gill Energy acquired Chester-based Mohawk Oil for an undisclosed sum. The agreement includes a collection of fee and leased retail gas assets with convenience stores, service bays and snack shops, wholesale supply only accounts and assignment of the Branded Sunoco Distributor agreement, according to Petroleum Equity Group Ltd.
Chappaqua, N.Y.-based Petroleum Equity Group served as exclusive advisor to Mohawk Oil.
Mohawk Oil has been owned and managed for the past 20 years by the founder's grandson. The company was the first Sun Oil (the predecessor company to Sunoco) distributor in New Jersey and remained one of their only New Jersey-based distributors for its entire history.
"We are very excited to add the assets of Mohawk Oil to our growing company, and we expect a seamless transition as the businesses of Mohawk were exceptionally well-managed for three generations," said Bikram Gill, CEO of Gill Energy.
Gill Energy is a family-owned and -operated fuel retailer and wholesale jobber. The company currently distributes approximately 250 million gallons a year across its network of company operated retail locations, dealer sites and wholesale accounts in New Jersey, New York and Pennsylvania.
Gill Energy's brand portfolio includes BP, Sunoco, Exxon, Mobil and 76.