Known for stations that sell cheaper-than-average gas, have drive-through windows and sit alongside long rows of soda machines, Wilmington-based GOGAS Corp. has new owners.
K.E. Austin Corp. sold the assets of the gas station company, including at least 14 pieces of property throughout New Hanover, Brunswick and Pender counties, to Quality Oil Co. LLC of Winston-Salem.
The three-county property purchases alone by Quality Oil from GOGAS Land LLC total at least $4.6 million, according to deeds recorded Tuesday in the three counties, with more than half of that amount, $2.6 million, going to pay for the New Hanover County parcels, deeds show.
Quality Oil bought the GOGAS stations and the brand, founded by Kit and Deborah Austin, but did not disclose the total price that the company paid. In all, 20 of the kiosk-style GOGAS sites in nine Southeastern North Carolina counties changed hands as part of the deal. Those 20 have a total annual fuel volume of more than 53 million gallons, according to a Convenience Store News article.
"All GOGAS locations will continue to operate as usual, and all of the company’s eligible store employees and field staff were retained by Quality Oil," according to a news release Wednesday from Quality Oil.
Kit Austin said in the release, “We are fortunate to have found a buyer that is based in N.C. and matches GOGAS’s culture of customer Service, employee relations and vendor relationships. This will make for a seamless transition. We are very grateful for the wonderful loyal customer support that GOGAS has received over the last 39 years.”
Both companies use similar operating models "designed to provide ultimate convenience for purchasing gasoline and cigarettes at competitive prices. Unique drive-through windows allow shoppers to make their purchases at an increased speed of service compared to that of the traditional convenience store," the sale announcement said.
Quality Oil, a family-owned company, was founded in 1929 and operates numerous Quality Mart convenience stores, Quality Plus gas houses, and hotels located in various cities throughout the southeastern U.S., the release said.
“This acquisition immediately provides us with a strong foothold in the Wilmington area and allows us to tap into a great petroleum market in southeastern North Carolina,” said Andy Sayles, senior vice president of Quality Plus.
On Wednesday afternoon, the GOGAS station at 6308 Market Street was busy with customers taking advantage of the gas prices there, one of which (as of 3 p.m. Wednesday) was $2.34 for regular unleaded. That was about 3 cents below the regular unleaded average for Wilmington for the day, according to AAA’s Daily Fuel Gauge.
What appeared to be the lowest regular unleaded price on the list provided by the website North Carolina GasBuddy for Wilmington on Wednesday at about 3 p.m. was $2.30 at the Murphy USA gas station at 5205 Carolina Beach Road.
AAA reported that Wednesday’s national average was about $2.66. In a news release Aug. 10, the AAAA said the national average price for regular unleaded gasoline has fallen for 26 consecutive days, partly as a result of the falling price of crude oil.
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