Haitian GB group acquires Texaco gas brand

Haitian based Gilbert Bigio (GB) Group, has finalized a deal to acquire the fuels marketing and aviation businesses of Chevron in Jamaica, which trades under its Texaco brand, in addition to its fuel marketing operations in the Dominican Republic and St Maarten.

The Jamaican assets will give GB access to 17 percent of the service stations in Jamaica (approximately 62 gas stations, according to 2011 telephone listings).

Gilbert Bigio, the chairman of the GB Group, indicated that the acquisition would further expand the revenue stream of the business.

“This transaction is part of our ongoing efforts to constantly search for new opportunities to expand our downstream fuel business in the Caribbean, keeping our focus to satisfy the needs of our customers in the markets where we operate,” he said in a press release.

The GB Group is a family-run conglomerate, touted as the largest in Haiti, which is also the local partner for Digicel.

Source: Agencies