RPF Oil Company Acquires BP Assets

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RPF Oil Company Acquires BP Assets

05/24/2005
RICHMOND, Va. -- RPF Oil Co. acquired 44 BP retail and wholesale fuel assets in the greater Detroit market, making the company one of the largest BP-branded jobbers in Michigan, with nearly 100 million gallons of motor fuels supplied annually.

Based in Grand Blanc, Mich., RPF has been distributing and marketing motor fuels in the greater Detroit market since 1933 and has been a distributor for BP and BP Amoco since 1985. This is RPF's first major transaction in support of the company's strategic plan to grow its distribution business.

The 44 retail and wholesale fuel assets acquired are comprised of four company-owned and -operated sites; six company-owned, commissioned-marketer sites; nine company-owned, dealer-operated sites; and 25 dealer-owned and -operated sites. At the closing, RPF assigned the purchase of the four company-owned and -operated sites to one of its leading dealers, Auto City Services Inc. (ACS), and entered into a long-term supply agreement for those and other additional ACS stores.