Leaders advises Johnson & Dix on its sale of assets to Irving Oil.
In the first of two strategically orchestrated transactions, Johnson & Dix Fuel Corp. sold its heating oil and propane business, and seven of its convenience retail stores in New Hampshire and Vermont to Irving Oil Corp. The transaction included Johnson & Dix’s residential and commercial home heating business in New Hampshire and Vermont. “We are very pleased to be growing our business in New Hampshire and Vermont with this purchase of high quality retail stores and a full service heating oil and propane business,” said Mike Crosby, head of marketing for Irving. “It’s a perfect fit for us. We’re extremely proud to welcome the Johnson & Dix family into ours. They have a well-run business and an excellent and well-earned reputation.” Since 1970, Johnson & Dix has been owned and operated by the Breed family. Chairman William Breed works alongside his daughter Penny Breed, Johnson & Dix’s president and chief executive officer. Leaders LLC advised the Breed family in connection with this and a subsequent transaction involving the wholesale gasoline business.