Giant Eagle Fuel Sale Finalized as Company Exits Distribution Business

Giant Eagle has officially exited the fuel distribution industry following the Giant Eagle fuel sale to Cary Oil Co. Inc.

Fuel Distribution Business Sold Separately From GetGo Deal

In a major business move, Giant Eagle sold its wholesale motor fuels distribution unit to Cary Oil, a Cary, North Carolina-based company.
This Giant Eagle fuel sale was completed separately from the $1.57 billion sale of its GetGo Café + Markets stores to Couche-Tard.

Giant Eagle’s former wholesale operation supplied motor fuels to over 80 dealers across Indiana, Illinois, and Kentucky.
These accounts originated from its 2018 acquisition of Ricker Oil Co., based in Anderson, Indiana.

The divested business included well-known brands like bp, Amoco, Phillips 66, Conoco, and Marathon.
Most distribution operations focused on Indianapolis and nearby areas, making the deal attractive to regional buyers like Cary Oil.

Cary Oil Expands Its Fuel Distribution Network

Cary Oil already delivers nearly 1 billion gallons of fuel yearly to over 1,000 dealers in 20+ states.
This acquisition strengthens its footprint in the Midwest and complements its growing fuel supply portfolio.

Just recently, Cary Oil sold 15 Breeze Thru Markets to Sampson-Bladen Oil, which operates Han-Dee Hugo’s c-stores.
Despite the retail exit, Cary Oil continues to focus heavily on branded wholesale fuel distribution nationwide.

Founded in 1959, Cary Oil has expanded from a single tank wagon to a multi-state fuel powerhouse.
The company once operated convenience stores but has recently refocused on bulk fuel delivery and distribution.

Giant Eagle Refocuses on Core Supermarket Operations

This Giant Eagle fuel sale marks the company’s complete exit from fuel and convenience operations.
In addition to selling its wholesale fuel unit, Giant Eagle divested 270 GetGo stores and WetGo car washes.

These sales allow the Pittsburgh-based grocer to fully shift focus to its core supermarket and pharmacy businesses.
Matrix Capital Markets Group advised on both deals, managing a confidential and structured sale process for Giant Eagle.

Stephen Lynch, Managing Director at Matrix, praised Giant Eagle’s strategic growth and operational expertise.
He noted that Matrix has worked closely with the retailer on several key transactions over the years.

Legal support came from Weil, Gotshal & Manges and Winthrop & Weinstine, who represented Giant Eagle in both transactions.
The overall result is a cleaner, more focused operating structure for the grocery retailer.