Craft Oil Acquires Neslo Petroleum

Noria news wires
Tags: industrial lubricants, automotive

Lubricant and equipment distributor Craft Oil Corporation has announced the acquisition of Neslo Petroleum Products Inc. The acquisition will mean the relocation of the current Craft Oil operation in New Jersey to the current Neslo facilities in Fords, N.J.

Former Neslo owner Dave Olsen will help with the transition in a consulting role with Craft Oil to assure continuity for customers. Erik Olsen, Dave's son, will be joining Craft Oil on the operations team.

This is the fifth acquisition by Craft Oil in the last four years, as it continues to focus on strategic companies that fit into its current business model of contiguous growth and synergies with the Shell, ExxonMobil and Service Pro brands of lubricants.

"Neslo Petroleum gives Craft Oil the opportunity to continue growth in what we excel at – lubricant distribution to quality customers with our established suppliers," said Bob Mills, president and owner of Craft Oil Corp. "We continue our long-term company vision of continual reinvestment in the business. Neslo in Fords, N.J., is a strategic location for Craft Oil that builds on our distribution efficiencies."

For more information about Craft Oil Corp., visit www.craftoilcorp.com.


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