PAPCO Purchases 24 Stations in Its Core Market
VIRGINIA BEACH, Va. -- Locally based petroleum marketer PAPCO Inc. acquired 23 Shell-branded gas stations and one Exxon location from SMO Inc., a wholly-owned subsidiary of The Wills Group Inc. SMO made a strategic decision to exit the southeast Virginia market and reinvest in its other assets.
"We are very excited about the SMO acquisition,” said PAPCO President Gary Gilmore. “These retail assets are in our core market in southeastern Virginia and will be a nice addition to our retail portfolio. We look forward to working with this group of retail dealers to continue their ongoing operations and helping them to leverage the supply and marketing strengths of PAPCO.”
PAPCO began servicing the sites on Aug. 30. “The transition will be smooth and seamless as customers are integrated into PAPCO’s operation,” noted PAPCO Finance Vice President Beth Johnson.
La Plata, Md.-based SMO and its parent company, The Wills Group, will continue its core marketing activities in retail from Richmond, Va., to Wilmington, Del. Additionally, SMO serves southern Maryland markets and beyond in home heat, HVAC and commercial fuel.
“We are very pleased that PAPCO is serving these retail locations,” said Lock Wills, president and CEO of The Wills Group. “PAPCO is a dynamic and innovative company that has an outstanding reputation in supplying petroleum retailers. These retail dealers will continue to enjoy the same high-quality level of service they have always enjoyed.”
PAPCO is a leading energy supplier in the eastern United States. It markets refined fuels, lubricants, risk management products and fuel card fleet management programs to a broad customer base.
The Wills Group also operates Dash In Food Stores, a chain of 37 convenience stores.