Campbell Oil Expands Fuel Footprint with Strategic Acquisition of North Carolina Distributor
This analysis is based on reporting originally published by C-Store Dive. For ongoing industry coverage, subscribe to the free daily C-Store Dive newsletter.
In a move that consolidates its presence in the Southeast, Campbell Oil announced today the acquisition of Smith Oil Distributors, a family-owned fuel distributor based in Sampson County, North Carolina. The deal marks a strategic pivot for Campbell, which has spent the last two years primarily bolstering its Minuteman Food Mart retail network, and underscores the company's ambition to scale its core fuel distribution and services division.
The acquisition will significantly expand Campbell's portfolio of fuel, propane, and related service solutions for residential, agricultural, and commercial customers across southeastern North Carolina. Founded in 1948, Campbell already operates in the region, supplying gasoline, diesel, propane, and lubricants. Integrating Smith Oil's established routes and customer base provides a ready-made platform for deeper market penetration.
"This expansion into Sampson County allows us to deepen our investment in the communities we serve," said Tracy Hardin, Vice President of Short Truck Operations for Campbell. "We are committed to building strong, long-term relationships with our new customers while upholding the family-owned values that both Campbell and Smith Oil have championed for decades."
According to the announcement, Smith Oil's founders, Billy and Helen Smith, will remain actively involved during the transition period to ensure operational continuity and stability for employees and clients.
Industry analysts view the acquisition as part of a broader consolidation trend within the fuel distribution sector. Campbell joins peers like Sunoco LP and JB Dewar in pursuing growth through strategic mergers and acquisitions, particularly as companies seek to secure supply chains and achieve economies of scale in a competitive market. The company stated it is "actively pursuing strategic acquisitions with established fuel and energy providers," suggesting this deal may be the first in a series of similar moves.
Market Reaction & Analyst Commentary
Michael Thorne, Energy Sector Analyst at ClearView Capital: "This is a logical, territory-focused acquisition for Campbell. It's less about diversification and more about density—strengthening their distribution network in a region where they already have infrastructure. This improves logistics efficiency and market share in one stroke. We expect to see more of these 'bolt-on' acquisitions from mid-sized players looking to solidify regional dominance."
David Chen, Portfolio Manager: "After the Minuteman store investments, some wondered if Campbell was moving away from wholesale fuel. This deal answers that question definitively. Fuel distribution remains a cash engine, and scaling it through M&A is a faster path to growth than organic expansion, especially in a fragmented market like the Southeast."
Sarah J. Miller, Small Business Advocate (via 'The Main Street Journal' blog): "Another family-owned distributor swallowed by a larger corporation. We hear the usual promises about 'values' and 'community,' but history shows local jobs and personalized service often get 'optimized' away within a year. Billy and Helen Smith built that business from the ground up. Is Campbell's 'long-term relationship' just a euphemism for squeezing out smaller competitors until they control the market?"
Robert "Bob" Henderson, Former Fuel Truck Driver & Sampson County Resident: "I've known the Smiths for 30 years. Good people. I hope Campbell keeps their local staff and doesn't just run everything from some corporate office hundreds of miles away. We need reliable service here for our farms and businesses, not more distant decision-makers."
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