The GB Group Energy division, through its affiliate Gulfstream Petroleum, announced today that it has completed the acquisition of Chevron’s fuels marketing and aviation businesses in St. Maarten, Jamaica and the Dominican Republic.
This transaction includes a network of over 220 retail service stations operating under the Texaco Brand, fuels terminals and airport refueling operations across the three markets.
Following this transaction, the GB group becomes the first Haitian multinational and a regional petroleum marketer with more than 360 service stations.
This day marks an important milestone in our long-term development plans and this transaction is perfectly aligned with our intentions to pursue growth internationally as well as in our home market,” commented GB Group Chairman, Mr. Gilbert Bigio.
The GBG Energy division, headed by CEO Pablo Portes, is formed by a team of executives with many years of experience in the petroleum industry and deep knowledge of the fuel business in the Caribbean area.
Mr. Bigio further comments: “This is a long awaited moment for our team as we have been mobilized and pursuing expansion efforts for some time.”
Based in Haiti since 1896, the GB Group is a diversified holding of private enterprises operating in five main industries, which are Energy, Building Materials, Consumer goods, Telecom and Infrastructure.