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The acquisition of Commercial Distribution and Edwards Oil are significant for Windward as they extend the company's geographic reach from the Eastern U.S. into the Midwest. 'These acquisitions bring us another step closer to realizing enhanced service and product offerings through a multi-regional network of lubricants distributorships,' said Windward Petroleum CEO Terry Russell.
In keeping with Windward's acquisition strategy, Commercial Distributing will continue to operate under its own name throughout Oklahoma, as well as parts of Texas, Arkansas, Missouri, and Kansas. CDI is headquartered in an 88,000-square-foot facility in Oklahoma City and has additional distribution locations in Tulsa, OK and Joplin, MO. The company, which had $40 million in annual sales in 2001, is a distributor of Pennzoil/Quaker State, Castrol, Citgo, Chevron and Valvoline products throughout its geographic marketing area.
'I am really excited to have our team merge with the Windward Petroleum team,' commented CDI General Manager Dale Spomer. 'With their regional strength and administrative and technical systems and support, we feel CDI will be in a position to better meet our customers needs than ever before.'
Edwards Oil Company is an integrated distributor of petroleum products. Windward is acquiring Edwards' lubricants business, comprised of Citgo- and Castrol-branded lines that are distributed to the automotive, commercial and industrial market segments in Tennessee. Following the sale of its lubricants business to Windward, Edwards will continue to operate its convenience stores, fuel distribution operations and other businesses.
'Edwards' lubricants business complements our existing Jackson Oil operations in the south while providing entry into new geographic markets, increasing our product offerings, and improving the efficiency of our delivery programs,' said Andy Welcher, Windward's president and COO.
Welcher stressed that the management and staffs of both CDI and Edwards would be retained. Also, he stated that Windward is in a strong position to make additional acquisitions as opportunities are presented.
Windward Petroleum currently operates 15 distribution facilities, which offer over 7,000 products to more than 25,000 customers in 21 states. Other Windward-owned distributors include Bailey Distributing with three locations in New England; and Jackson Oil Products, with seven locations across the south and its recently expanded Pittsburgh, PA operation that markets under the Windward name.