Craft Oil Corp. acquires Neslo Petroleum Products

Craft Oil Corp., a privately held oil lubricant and equipment distributor based in Avoca, PA, announces on February 10, the acquisition of Neslo Petroleum Products, Inc. in Fords, NJ.

The acquisition will mean the relocation of the current Craft Oil operation in New Jersey to the current Neslo facilities in Fords, NJ. Neslo was established in 1975 as a leading lubricant distributor in the state of NJ and an authorized distributor for Shell Oil Co. Neslo has been known as a customer-focused lubricant supply business with a strong reputation for service by former owner Dave Olsen.

Dave Olsen will help with the transition in a consulting role with Craft Oil to assure the continuity for customers. Erik Olsen, Dave's son, will be joining Craft Oil Corp. on the operations team.

This is the fifth acquisition by Craft Oil in the last four years, as it continues to focus on strategic companies that fit into their current business model of contiguous growth and synergies with the Shell, ExxonMobil and Service Pro brands of lubricants. Neslo customers new to Craft Oil will find value added with not only the continued delivery of lubricant oil products, but also Craft Oil's service team, service related equipment and ancillary products that can be added to streamline and enhance their business operations.

Craft Oil's goal is to be the Total Solutions Lubricant and Equipment Partner to their customers by offering Lubricant expertise and breadth of product in all industries plus sales, service and repair for a variety of service equipment, Clean Burn Multi Fuel Burners and Craft Oil's industrial solutions offerings.

Bob Mills, President and Owner Craft Oil Corp., commented on the acquisition, "Neslo Petroleum gives Craft Oil the opportunity to continue growth in what we excel at – lubricant distribution to quality customers with our established suppliers. We continue our long term company vision of continual reinvestment in the business. Neslo and Fords, NJ is a strategic location for Craft Oil that builds on our distribution efficiencies."

For more information about Craft Oil Corp. please visit www.craftoilcorp.com or call 1-800-451-LUBE(5823).

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