Global liquefied petroleum gas (LPG) trading and shipping company Petredec, announced the acquisition of Quest Petroleum, a fuels distributor in the Eastern Cape, South Africa.
The addition of Quest to the portfolio expands Petrefuel’s geographic coverage beyond KwaZulu-Natal and sees the LPG company take its first steps into non-fuels retailing.
Following its acquisition by Petredec, Quest becomes part of the Petrefuel group of companies along with the former Jubane Petroleum and Oilco Wholesale businesses and a stablemate of Petregaz, South Africa’s leading LPG wholesaler.
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Quest Petroleum was founded in 2005 by Shaun Hitzeroth and Jay Smith and began operations by distributing lubricants in the Port Elizabeth area, before entering the fuels market in 2007 to distribute diesel, petrol, illuminating paraffin and LPG across the Eastern Cape and Free State.
Today, besides an extensive customer base in the wholesale sector, the business also supplies a network of 80+Quest-branded service stations and operates its own chain of convenience stores under the EZEE Exprez brand.
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The transaction will see Quest Petroleum become part of the Petrefuel Business Division in South Africa.
Petrefuel will distribute diesel, petroleum, paraffin and lubricants to customers operating in the transport, agricultural, retail, industrial and other commercial sectors.
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Commenting on the acquisition, Petredec’s CEO Giles Fearnsaid, said: “Shaun and Jay have done a fantastic job developing the Quest business and have enjoyed seeing it grow into a strong player in its home market of the Eastern Cape and beyond.
“As part of Petrefuel, we envisage the management and staff of Quest taking the combined business to even greater heights as we look to establish operations on a national scale in South Africa. We welcome the entire team to the Petredec family.”
Source link : https://www.esi-africa.com/industry-sectors/business-and-markets/lpg-market-growth-as-petredec-acquires-quest-petroleum-in-south-africa/
Publish date : 2021-03-02 08:30:37