Fuel distributor and solutions provider Cary Oil announced the completion of two acquisitions on July 16, expanding the company’s presence to the U.S. Midwest and Southeast.
The first acquisition closed on Feb. 19 and included more than 90 branded contracts across the Midwest, with a concentration in Indiana and additional sites in Illinois and Kentucky. The acquired business was previously operated by Ricker Oil/Giant Eagle, a regional fuel marketer with established retail relationships. The portfolio comprises a range of brands and long-standing agreements with independent operators. As part of the acquisition, Cary Oil added two former Ricker Oil/Giant Eagle employees to its team — Kristina Castor and Brian Dyke.
MDM’s 1Q25 M&A Report (store link)
On June 26, Cary Oil completed the acquisition of branded contracts for eight Shell retail locations in the Memphis, TN area from McGinnis Oil, a family-owned company with an established presence in the region. Cary Oil said this acquisition expanded its footprint in the Southeast and supported its strategy of working with independent operators in targeted growth markets.
Terms of the transactions were not disclosed.
“We’re honored to have the opportunity to carry forward the legacy of two outstanding organizations — Ricker Oil/Giant Eagle and McGinnis Oil — and to welcome their customers and partners into the Cary Oil family,” Cary Oil President and CEO R. Mark Maddox said in a July 16 news release. “These are more than just transactions; they are a reflection of our commitment to building lasting relationships and bringing the Cary Oil way to new communities.”
In the Store: MDM’s U.S. MRO Market Trends Report
Cary Oil said the acquired locations will have access to the company’s branded programs, logistics capabilities and operational support. With these additions, Cary Oil now supplies approximately 1,000 independently owned convenience retail sites.
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