SAINT-THOMAS, QC, July 31, 2015 /CNW Telbec/ - Harnois Groupe pétrolier and Les Pétroles Therrien, two of Quebec's largest independent petroleum products distribution companies, announce they have reached an agreement that will see Harnois Groupe pétrolier acquire the assets of Les Pétroles Therrien.
The transaction will strengthen the leadership position held by Harnois Groupe pétrolier, which will now head a petroleum products distribution network comprised of three banners. In integrating the Pétro-T chain, which owns 142 service stations in Quebec, the total number of stations operated by Harnois Groupe pétrolier will climb to 317.
"This acquisition is by far the largest transaction that Harnois Groupe pétrolier has undertaken in its 56 years in business," stated Serge Harnois, President & CEO of Harnois Groupe pétrolier. "It will enable us to diversify our geographic markets and increase our overall sales of petroleum products, which will now total close to 1.4 billion litres annually," he added.
"For our organization, this strategic acquisition was a natural next step," Mr. Harnois continued. "Our markets complement one another, we have similar clientele groups, and our two teams are equally experienced. Given all of these advantages, we are confident that the company will continue to be efficient, flexible and customer-focused. It will be ideally positioned to successfully meet our upcoming challenges."
Léo-Paul Therrien, President of Les Pétroles Therrien, welcomes the agreement and the promise it holds for Pétro-T customers and employees alike. "For more than 50 years, Les Pétroles Therrien and Harnois Groupe pétrolier have built their businesses on comparable foundations. The similarities between our management approaches and corporate cultures were decisive factors that made this option the right one for the future of Pétro-T, with the added advantage of our company remaining in the hands of a Quebec family and under local control. After these many years at the helm of the company I founded, I believe this is the right time to pass on responsibility for Les Pétroles Therrien to another group who will continue to help it grow and who will succeed me in my role very effectively," said Mr. Therrien.
The acquisition includes the Pétro-T client list and customer business as well as the exclusive right to the Pétro-T and Les Pétroles Therrien commercial and corporate names, buildings, storage tanks, rolling stock and all of the moveable property used in the operation of the business.
Once the transaction has been finalized, the activities associated with the Pétro-T network of retail operations will remain unchanged. Harnois Groupe pétrolier will continue to draw on the expertise and skills of the team in place to carry on the excellent work accomplished by Léo-Paul Therrien under the Pétro-T banner. The Pétro-T division will be run from the offices on Lemire Boulevard in Drummondville.
For the company's clientele, nothing changes: Pétro-T personnel will offer the same products and services and can be reached at the same telephone numbers.
Because the transaction is subject to approval by the Competition Bureau, it will be finalized once this step has been completed. Until then, the two companies will continue to manage their businesses separately.
About Harnois Groupe pétrolier
The company, founded in 1958, specializes in the sale and distribution of wholesale and retail petroleum products, lubricants and speciality products. It serves markets in Quebec, Nunavut and Labrador and is currently expanding to other Canadian provinces.
Harnois Groupe pétrolier is supported by a network of associated companies and a wide network of sub-distributors to meet the needs of consumers in six market segments: retail, commercial/service, industrial, residential, agricultural and aviation. Harnois Groupe pétrolier distributes products and services under the private labels Harnois, H-Go, Diesel Express and Le magasin, as well as under the Esso and Mobil brands.
A staff of 584 dedicated employees help Harnois Groupe pétrolier fulfil its mission. With the acquisition of the assets of Les Pétroles Therrien, this number will surpass 600. The Harnois Groupe pétrolier head office is located in Saint-Thomas, Quebec.
About Les Pétroles Therrien
Since its founding in 1964, Pétro-T has held an important place in the petroleum products distribution market. Through the vision and determination of Léo-Paul Therrien, Pétro-T has grown to become one of the largest independent oil companies in Quebec. Its retail network includes 142 service stations offering a variety of services, such as convenience stores, quick serve restaurants, no contact car washes, and five automated (cardlock) distribution centres.
A team of 18 professionals make up the management and sales team of Pétro-T, which is headquartered in Drummondville, Quebec.
SOURCE Harnois Groupe pétrolier
Image with caption: "Léo-Paul Therrien, Claudine Harnois, Claude Harnois, Luc Harnois, Serge Harnois (CNW Group/Harnois Groupe pétrolier)". Image available at: http://photos.newswire.ca/images/download/20150731_C1354_PHOTO_EN_465843.jpg
For further information: Claudine Harnois, Vice-President, Human Resources, Communications and Culture, Harnois Groupe pétrolier, 450-759-7979, ext. 1016, [email protected]