Colonial Group to Acquire Foster Fuels

Colonial Group Inc. has entered into an agreement to acquire Foster Fuels, a Virginia-based provider of fuel, lubricants, propane and mission critical energy services, according to a press release sent to NACS. Through its Mission Critical services, Foster Fuels offers guaranteed emergency fuel response in critical industries as well as for natural disasters, the company said.

“The acquisition will expand Colonial’s presence and strengthen its ability to serve commercial, industrial, residential, agricultural and transportation customers with an expanded portfolio of energy products and services. Together, the organizations will build upon a shared commitment to operational excellence, customer service and long-term growth,” Colonial Group said.

Under Colonial Group ownership, Foster Fuels will continue operating under its brand and leadership. All Foster Fuels employees are expected to remain with the organization.

“From the beginning, we recognized that there was something incredibly unique about Foster Fuels. We were impressed by the business and its capabilities, but we were even more impressed by the people we met and the culture they have built,” said Christian Demere, president and CEO of Colonial Group. “It is rare to find two companies, each with more than a century of history, whose values, cultures and commitment to their customers and communities align as closely as ours do.”

Earlier this year, Colonial Oil Industries Inc., a division of Colonial Group Inc. based out of Savannah, Georgia, announced the acquisition of Sandersville, Georgia-based Atkinson Oil Company LLC, a commercial distributor of fuel and lubricants.

The acquisition adds 14 Atkinson Oil team members to Colonial Oil Industries as part of an "integration process designed to maintain continuity and support long-term growth."

Colonial Oil said the acquisition is "expected to strengthen Colonial Oil Industries' presence across the Southeast and expand its ability to deliver essential fuel and lubricant products to customers in the region."

Mergers and acquistitions