Rail Petroleum Sells Assets

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Rail Petroleum Sells Assets

GALLATIN, Tenn. -- Rail Petroleum Co., based here, completed the sale of its assets, which reportedly included three or four convenience stores, to H&S Properties of Springfield, Tenn., and a well-established wholesale distribution business to Seay Oil Co. Inc., of Hopkinsville, Ky., according to a report in The Leaf Chronicle.

After the death of Rail Petroleum Founder Robert Hendrickson earlier this year, family members Todd, Scott and Bette Hendrickson continued Rail Petroleum operations as company president, vice president and secretary/treasurer, respectively, the newspaper reported. Todd and Scott Hendrickson will join Seay Oil Co. to help serve Rail's approximately 150-site wholesale customers.

Seay Oil is a petroleum and oil distributor operating in eight states and 306 counties covering a marketing area of 250 miles, according to its Web site. Seay Oil distributes BP, ExxonMobil and CITGO branded gasoline and operates a lubricants business. The company also markets renewable fuels such as biodiesel, ethanol and E85, as well as independent fuel and unbranded products.

H&S Properties, owned in part by Hollingsworth Oil Co., owns and operates convenience stores in the Gallatin area.

CSNews Online's call to Hollingsworth Oil was not returned by press time.

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