ExxonMobil has reached an agreement with Southside Oil to sell its real estate interests at all Exxon branded retail stations located in Maryland, and Delaware, a move consistent with the company’s 2008 decision to transition its company-owned sites to branded distributors, spokesman Kevin Allexon confirmed.
As part of the deal, Southside will also purchase the ExxonMobil’s Baltimore Company Fleet operation and a portion of the Newington Company fleet operation.
“Upon completion of this sale, ExxonMobil will assign its franchise agreements (without any changes to Petroleum Marketing Practices Act obligations and rights) to Southside Oil,” Allexon said in an emailed statement.
More than 75 percent of ExxonMobil’s branded-stations in the United States are owned and/or supplied by independent distributors.
Allexon said Southside Oil is an experienced and successful player in the retail fuels marketplace with long-standing and successful business relationships with gas station dealers.
“For those ExxonMobil employees whose positions will be impacted by this sale, they will receive offers of employment from Southside Oil pending successful completion of pre-employment process and continued satisfactory performance,” he continued.
Service station employees are employed by the dealer and thus not impacted by the ownership change.
“ExxonMobil is committed to making this conversion as smooth as possible. We don’t expect this change to impact our customers and they will continue to be able to purchase the same high quality Exxon products,” Allexon said.
Southside Oil is a wholesale gasoline distribution company serving the Mid-Atlantic and southern U.S. for over 75 years. Southside Oil currently provides gasoline distribution services to approximately 109 dealer-served BP and ExxonMobil stations. The company provides petroleum terminal supply for approximately 125 million gallons of gasoline and 15 million gallons of distillates out of the Richmond, Virginia, terminal facilities. The company also has its own fleet of proprietary transport vehicles and driver staff.
