ENERGY VOICE
Provided by Colonial Group, Inc. | Edited by EN Media Group
The acquisition will bring together two family owned energy companies founded in 1921 and expand Colonial Group’s fuel distribution and emergency energy service capabilities.
SAVANNAH, Ga. and BROOKNEAL, Va. Colonial Group, Inc. has entered into an agreement to acquire Foster Fuels, a Virginia based provider of fuel, lubricants, propane and mission critical energy services.
The transaction is expected to close October 1, 2026, subject to customary regulatory approvals and closing conditions. Financial terms were not disclosed.
The acquisition will expand Colonial Group’s geographic reach and energy service portfolio across commercial, industrial, residential, agricultural and transportation markets.
Foster Fuels will continue operating under its existing name and leadership following the acquisition, according to the companies. All Foster Fuels employees are expected to remain with the organization.
Expanding Fuel and Emergency Energy Services
Founded in Brookneal, Virginia, in 1921, Foster Fuels provides wholesale and residential fuel delivery, propane, lubricants, bulk water delivery and fuel quality services.
The company also operates a Mission Critical division that provides emergency fuel support for critical industries and disaster response.
That capability will become part of Colonial Group’s broader portfolio of businesses serving the energy, chemical, logistics and transportation sectors.
Colonial Group, headquartered in Savannah, Georgia, was also founded in 1921 and remains a fourth generation family owned company.
Christian Demere, president and CEO of Colonial Group, said the companies found significant similarities in their histories, operations and organizational cultures.
“From the beginning, we recognized that there was something incredibly unique about Foster Fuels,” Demere said. “We were impressed by the business and its capabilities, but we were even more impressed by the people we met and the culture they have built.”
Foster Fuels Brand and Leadership to Remain
The acquisition is not expected to result in a change to the Foster Fuels brand or its day to day customer relationships.
Colonial Group said it intends to provide additional resources and investment while maintaining Foster Fuels’ existing operations and leadership.
Watt Foster, president and CEO of Foster Fuels, said the longstanding relationship between the two companies played an important role in the decision.
“Deciding to sell our century old family business was hard. Deciding who to sell it to was easy,” Foster said. “Foster has been doing business with Colonial for decades and I know the future of our great company is in good hands.”
The companies said customers should expect continuity in existing service relationships throughout the transition.
Two Century Old Energy Companies Join Forces
The transaction is notable in part because both businesses trace their origins to 1921 and have remained family owned through four generations.
For Foster Fuels, the acquisition provides access to additional resources and a larger operating platform while preserving its existing brand.
For Colonial Group, the deal expands the company’s capabilities in fuel distribution and mission critical energy services while increasing its presence in markets served by Foster.
The Foster Foundation, which supports community initiatives associated with the Foster family, will remain an independent organization following the transaction.
The acquisition is scheduled to close October 1.
About Colonial Group
Colonial Group, Inc. is a fourth generation family owned company headquartered in Savannah, Georgia. Its businesses serve the energy, chemical, logistics and transportation industries throughout the United States.
About Foster Fuels
Foster Fuels, Inc. is a fourth generation fuel distributor headquartered in Brookneal, Virginia. The company provides fuel delivery, propane, lubricants, bulk water delivery, emergency fuel services and fuel quality services to residential, commercial, agricultural, transportation and industrial customers
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