Petredec, one of the world’s leading Liquefied Petroleum Gas (LPG) trading and shipping companies, has announced that it has completed the acquisition of Quest Petroleum, a leading fuels distributor in the Eastern Cape, which will now become part of the Petrefuel Business Division in South Africa.
Following its acquisition by Petredec, Quest becomes part of the Petrefuel group of companies along with the former Jubane Petroleum and Oilco Wholesale businesses and a stablemate of Petregaz, South Africa’s LPG wholesaler.
The addition of Quest to the portfolio expands Petrefuel’s geographic coverage beyond KwaZulu-Natal and sees Petredec take its first steps into non-fuels retailing.
Quest Petroleum was founded in 2005 by Shaun Hitzeroth and Jay Smith and began operations by distributing lubricants in the Port Elizabeth area, before entering the fuels market in 2007 to distribute diesel, petrol, illuminating paraffin and LPG across the Eastern Cape and Free State.
Today, besides an extensive customer base in the wholesale sector, the business also supplies a network of 80+Quest-branded service stations and operates its own chain of convenience stores under the EZEE Exprez brand.
Commenting on the acquisition, Petredec CEO Giles Fearn says: “Shaun and Jay have done a fantastic job developing the Quest business and have enjoyed seeing it grow into a strong player in its home market of the Eastern Cape and beyond.
“As part of Petrefuel, we envisage the management and staff of Quest taking the combined business to even greater heights as we look to establish operations on a national scale in South Africa.”