USA: Quarles Petroleum acquires Dixie Gas & Oil Corporation

Dixie is a leading supplier of commercial fuels, propone and lubricants in Virginia.

Quarles Petroleum acquires Virginian-based Dixie Gas & Oil Corporation, one of the region’s largest independent suppliers of retail propane, heating oil, commercial fuels, and lubricant products.

Dixie, a company founded in 1946, serves 10,000 customers in 17 counties throughout Virginia and West Virginia.

The company entered the convenience store industry in the 1970’s, eventually operating six convenience stores and six Subway restaurants before divesting them to Go-Mart in 2015. Dixie currently operates five bulk plants including a rail terminal at their Verona headquarters, as well as four retail offices with appliance showrooms.

“We are pleased that our organization will become part of Quarles Petroleum. As a family business with an equally long history, they share our commitment to our customers, our employees, and the communities that we serve. We also appreciate the advisory expertise of the entire Matrix organization in the successful completion of our project,” said Chris Earhart, Dixie.

Matrix provided merger and acquisition advisory services to Dixie.