ALEXANDRIA, Va.—Boyett Petroleum has sold its 10 company-operated petroleum marketing and convenience retail stores to United Pacific. United Pacific will lease nine of the stores it acquired from Boyett and related-party landlords under long-term lease agreements. In a separate transaction, Boyett has acquired United Pacific’s wholesale fuels distribution business, which consists of approximately 200 fuel supply accounts.
Boyett’s 10 Cruisers-branded convenience stores are high-performing stores that sell 76-branded fuels. The divestment of these stores allows the company to focus on its growing wholesale fuels distribution business. Modesto, California-based Boyett also acquired United Pacific’s wholesale fuels distribution business, which consists of Shell, Marathon, Phillips 66 and Valero branded, as well as unbranded, dealer accounts across California, Oregon and Washington. As part of this transaction, Boyett acquired United Pacific’s distribution rights in and to the Shell brand, which will allow the company to provide another premium brand offering to its existing and new dealer accounts.
“We believe that United Pacific will take the stores to the next level. They have a fantastic retail team and have welcomed our employees with open arms,” said Scott Castle, president of Boyett Petroleum. “It was important to us to find a company that valued our team as much as we did, and United Pacific did just that. We’re also very excited to bring United’s wholesale customers and team into the Boyett Family and look forward to growing the network of dealers.”
Stan and Carol Boyett founded Boyett Petroleum in 1940 as an operator of gas stations in and around Modesto, California. They were joined in the business by their son, Carl, in 1970. Carl dramatically expanded the company’s wholesale distribution division and added to the company’s growing stable of fuel brands. In 1993, Carl’s son Dale joined the family business. Under Dale’s leadership, the third-generation family-owned company has become one of the largest independent fuel distributors in the United States, supplying fuel to more than 500 service stations.