Regional provider of residential and commercial fuel, Quarles Petroleum, has acquired the petroleum distribution business of Colonial Fuel Oil. Quarles currently operates distribution centres throughout Virginia. It hopes to consolidate its Richmond fuel distribution operations at the Colonial Fuel Oil property located at 5279 Mechanicsville Turnpike, Mechanicsville.
"This acquisition supports Quarles’ growth strategy of attaining quality businesses to increase market share in the delivery of heating products to residential and commercial customers," stated Quarles CEO, Paul Giambra. "We look forward to providing Quarles high level of quality customer service to the Colonial Fuel Oil account base."
Art Cassanos, President of Colonial Fuel Oil, stated: "We looked at a number of possible companies to acquire the Colonial Fuel Oil business and we selected Quarles as the best fit for our customers. Like Colonial Fuel Oil, Quarles is a family-owned business that has served customers throughout the Virginia market since the 1940s."
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