M&A: Mercury Fuel Service plans to divest more assets

摘要

Waterbury, Connecticut-based Mercury Fuel Service Inc., a petroleum wholesaler and retailer that recently sold several of its 26 company-operated convenience stores to EG Group, intends to sell more assets, according to a letter sent to the state Department of Labor. The state requires notice of company layoffs. The July 1 letter, signed by Michael Devino, Mercury's president, does not disclose the assets that will be sold or the buyer, but based on the broad list of affected jobs the sale involves wholesale and retail operations. Devino did not return an OPIS inquiry by presstime. The 74-year-old company said it is selling "a portion of company assets, with an expected sale date of Sept. 3, 2021" affecting about 112 positions: five tanker drivers, 68 cashiers, 14 store managers, nine assistant managers, five administrative assistants, two area supervisors, two maintenance staffers, as well as an accounts payable manager, a gasoline dispatch manager, a wholesale gasoline manager, a part-time accountant, an IT manager, a human resources and business insurance manager, and a gasoline sales representative.