Pugh Lubricants and Apollo Oil announced Monday that they will be joining forces to create one of the largest lubricant distribution companies in the Eastern United States.
Officials at both companies declined to explain if one company is acquiring the other or if they are being merged in some other way. They also refused to say if compensation is being exchanged or to disclose other details.
The companies, both of which will continue operating under their existing names in the near term, seem to be following a trend of distributor consolidation in the U.S. lubricant market.
There is little geographic overlap in the areas where these companies currently distribute. Pugh services regions in North Carolina, South Carolina, Virginia and Tennessee, while Apollo services regions in Kentucky, Ohio and West Virginia.
Pugh President Mike Pugh and Chief Financial Officer and General Manager of Apollo Ed Dotson will continue in their current leadership roles, said a joint press release.