Haiti GB Group made acquisition in the petroleum sector

GB Group has become the first multinational company in Haiti to have over 360 service stations. This happened when the Haiti-based company's Energy division acquired Chevron's fuels marketing and aviation businesses. The acquisition involves the businesses in the Dominican Republic and Jamaica's St. Maarten.


Under the acquisition deal, the GB Group now has control over some 220 retail service stations that Texaco Brand operates. The deal also involves airport refueling operations and fuel terminals.

GB Group chairman Gilbert Bigio welcomed the deal, calling it an "important milestone." He added that the acquisition is a huge part of the company's plans to develop the local market, as well as grow globally. The transaction really goes well with GB Group's goals and vision, Bigio said. The chairman also shared that the acquisition is a golden opportunity that everyone in the company has been awaiting. It is known that since its establishment in Haiti in 1896, GB Group has been taking measures and initiatives to expand not only in Haiti but also in the international market. And the company's takeover of Chevron's divisions is a testament that GB Group's efforts are not going down the drain.

It can be remembered that last year, Chevron decided to sell some of its petroleum operations to GB Group in a bid to restructure its global portfolio. Chevron CEO Glenn Johnson once said that the sale will fulfill the company's goal of building stronger business ties with their investors and helping them get bigger returns. GB Group, a leading industrial group in Caribbean, expects that this deal would allow it to expand its fuel business in the region.

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Read more: Dominican Republic, jamaica, business, GB Group, Energy, Chevron, Fuel, Texaco, Gilbert Bigio, Market, Business & Finance

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