Cary Oil Announces Strategic Acquisitions Expanding Midwest and Southeast Footprint

CARY, N.C., July 16, 2025 /PRNewswire/ -- Cary Oil, a leading fuel distributor and solutions provider, today announced the successful completion of two key acquisitions that mark a significant step forward in the company's strategic growth and geographic expansion.

The first transaction closed on February 19^th, 2025, and includes over 90 branded contracts in the Midwest, with a strong concentration in Indiana and additional locations in Illinois and Kentucky. This business was previously operated by Ricker Oil/Giant Eagle, a respected and well-established fuel marketer known for its strong retail partnerships and regional impact. These locations represent a diverse mix of brands and long-standing relationships with independent operators. As part of the acquisition, Cary Oil is excited to have onboarded two key Ricker Oil/Giant Eagle employees: Kristina Castor and Brian Dyke.

Most recently, on June 26^th, 2025, Cary Oil completed the acquisition of branded contracts for eight Shell retailers in the Memphis, Tennessee area from McGinnis Oil, a family-owned company with deep community roots and a long-standing reputation for operational excellence. This transaction strengthens Cary Oil's presence in the Southeast and reinforces its commitment to partnering with independent operators in key growth markets.

"These acquisitions represent a meaningful step in Cary Oil's long-term growth strategy," said R. Mark Maddox, President and CEO of Cary Oil. "We're honored to have the opportunity to carry forward the legacy of two outstanding organizations—Ricker Oil/Giant Eagle and McGinnis Oil—and to welcome their customers and partners into the Cary Oil family. These are more than just transactions; they are a reflection of our commitment to building lasting relationships and bringing the Cary Oil way to new communities."

Both Ricker Oil and McGinnis Oil share Cary Oil's values of integrity, customer service, and long-term partnership, making these transactions a natural fit. The acquired locations will benefit from Cary Oil's branded programs, logistics expertise, and deep support infrastructure designed to help retailers thrive in today's competitive marketplace. These acquisitions bring Cary Oil's branded site count to approximately one thousand independently owned convenience retail locations.

"Our ability to execute acquisitions like these is a direct result of the financial strength we've built over time," added Maddox. "But more importantly, it's about trust. We deeply respect the family-owned businesses that entrust their legacy to us, and we work tirelessly to ensure a seamless transition for their customers and communities."

To learn more about Cary Oil, visit caryoil.com.

About Cary Oil

Cary Oil is a privately-owned and operated fuel wholesaler built on a legacy of success. Since 1959, Cary Oil has earned the trust of its customers by providing outstanding professional service, premium products, and innovative solutions. Serving almost one thousand independent convenience retailers with operations in twenty-one states, Cary Oil distributes almost a billion gallons annually and is a national leader in refined fuel marketing.

SOURCE Cary Oil Company