MIDLAND, Texas—Kent Distributors Inc. of Midland, Texas has entered the state of Tennessee with the purchase of Parsons Oil Co. Inc. of Fayetteville, Tennessee, according to Newsbreak.com.
The acquisition includes five company-operated, Shell-branded retail petroleum sites in Tennessee, four Buy Fast convenience stores and the Big Chicken truck stop in Ardmore. In coming weeks, Kent Distributors will rebrand the fuel sites to Chevron. The stores will be rebranded Kent Kwik.
The deal also includes branded and unbranded dealer supply accounts, a commercial lubes and fuel distribution business, a bulk plant, office and related assets. The acquisition gives Kent Distributors a strategic foothold to support the company’s growth plans for both central Tennessee and beyond, the company said.
“Our acquisition team is always looking for unique opportunities to extend our retail formula of success to high-growth areas of the country. Acquiring Parsons Oil and the Buy Fast stores allow us to do that,” said Bill Kent, chairman and CEO, Kent Cos. “After conducting our initial visit, we recognized the close proximity that Fayetteville has to rapidly growing Huntsville, Alabama.”
Big Chicken is the first truck stop located on the Tennessee side of the Tennessee-Alabama state line. “We are looking forward to enhancing the success of this unique site by incorporating the Kent Kwik brand and our proven operational formula,” said Kent.
Founded in 1927, Parsons Oil has served southcentral Tennessee for more than 93 years.