Colonial Group Inc. is expanding its fuel distribution and emergency energy business with an agreement to acquire Foster Fuels, a Virginia-based supplier of fuel, lubricants and propane.
The deal will also bring Foster Fuels’ Mission Critical services into Colonial’s portfolio. The business provides emergency fuel response for critical industries and during natural disasters.
Foster Fuels will keep its name and current leadership after the acquisition, while its employees are expected to remain with the company.
Colonial said the deal will broaden its reach across commercial, industrial, residential, agricultural and transportation markets.
The acquisition is Colonial’s second fuel-sector deal this year. In May, its Colonial Oil Industries division agreed to acquire Atkinson Oil Company in Georgia, adding 14 employees and strengthening its presence in the Southeast.
