APPLETON, Wis. — Wholesale fuel distributor U.S. Oil acquired a terminal in Milwaukee from Marathon Petroleum Corp. Terms of the deal were not disclosed.
According to U.S. Oil — the petroleum and renewable energy distribution division of U.S. Venture Inc. — the terminal will add 530,000 barrels of capacity and expand its distribution network to 20 terminals.
“With this acquisition, we will continue to service our customers through distribution, wholesale, branded and logistics businesses,” said Mike Koel, vice president of business development for U.S. Oil. “We look forward to continuing the relationships already in place, while expanding our customer base.”
The terminal, located at 9125 N. 107th St., joins the existing terminals U.S. Oil owns in Green Bay, Chippewa Falls and Madison, Wis.; Cheboygan and Rogers City, Mich.; Bettendorf, Iowa; and Houston, Fort Worth and Bryan, Texas.
The acquisition is expected to strengthen U.S. Oil's relationship with Marathon Petroleum and its customers. “U.S. Oil has an excellent reputation in terminal operations and management. We expect the transition to go smoothly,” said John S. Swearingen, senior vice president, transportation and logistics for Marathon Petroleum.
Appleton-based U.S. Venture distributes petroleum and renewable energy products, lubricants, tires and parts to the automotive aftermarket.
Findlay, Ohio-based Marathon Petroleum is the parent company to Speedway LLC. It is the nation's fourth-largest refiner with a crude oil capacity of 1.7 million barrels per day.