Southern Counties Buying Assets
Independent petroleum products distributor Southern Counties Oil Co., said Thursday it has agreed to purchase the assets of Tosco Corp.’s Pacific Northwest Energy Co. for an undisclosed amount of cash. The deal is scheduled to close June 30.
Pacific Northwest Energy distributes heating oil in parts of Washington and Oregon. Tosco acquired the company as part of its recently completed purchase of Unocal Corp.’s Costa Mesa-based 76 Products Co.
Orange-based Southern Counties operates a variety of petroleum distribution businesses throughout the West and Pacific Northwest, with the bulk of its activities centered in California, Arizona and Nevada.
A spokesman said the privately held company intends to use Pacific Northwest Energy’s assets to expand its presence in Washington and Oregon.
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