Lakeside, with 2009 volume of approximately 350 million gallons, is a distributor for BP Products North America, ExxonMobil, CITGO Petroleum and a licensee for Clark Brands.
The company distributes gasoline and diesel fuel under long-term contracts to approximately 250 retail operators in Wisconsin and Minnesota and is also a supplier to industrial, commercial and government customers.
Bill Elliott, president of Lakeside, said: “We are extremely pleased to be joining a company with the reputation and capabilities of World Fuel. This transaction will allow us to utilize our market knowledge and further grow the business.”
The transaction, which is expected to be $0.06 to $0.08 accretive to earnings in the first twelve months, is subject to customary closing conditions and is expected to be completed within the next ninety days.
