North Queensland Mobil fuel retailer and distributor Trinity Petroleum has entered into a new chapter in its 40-year history today with the completion of the sale of the company to Freedom Fuels.
Brisbane-based petroleum company, Freedom Energy Holdings Pty Ltd, which trades under the brand ‘Freedom Fuels’, and is a wholly owned subsidiary of Idemitsu Kosan Co Ltd., has today finalised its acquisition of the shares in the company from Trinity Petroleum owner Dean Pradal, (Member of PetrolWorld). The move will expand the Freedom Fuels’ business footprint in Queensland, where it currently operates a fuel importation, distribution and retailing business, with its 43 existing service stations being located in South-East Queensland and Northern NSW.
The Trinity Petroleum brand will remain, and it is intended there will be no changes to the Mobil brand in the foreseeable future. For staff, the sale is “business as usual”.
After 40 years with Mobil and Trinity Petroleum, owner Dean Pradal said he was excited about the future of the company under new ownership and that he expected that the business’ long history of community involvement in Far North Queensland would continue notwithstanding the change.
“I’d like to extend my personal and genuine appreciation to our customers and suppliers who have supported Trinity over many years – they have contributed to Trinity’s growth and the company wouldn’t be where it is without their support”, Mr Pradal said.
“Handing over the reins of Trinity after 40 years has been a hard decision but there comes a point when we all need to take stock and give the company the stepping stone it needs to grow and expand.
It was important to me to find a good fit for my staff, customers, local support and corporate image. Freedom Fuels has key goals that are in line with Trinity’s, therefore making the choice an easy one.
Over the 40 years I have watched Trinity grow from a small one man, one truck operation to what it is today – a fully-fledged business employing over 176 staff, operating 18 retail sites through Northern Queensland and running 12 Road Tankers.
I am proud of the Trinity team and what we have achieved over that time, and I look forward to seeing the future growth of the company under the stewardship of Freedom Fuels and Idemitsu”.
Mr Pradal announced that a large portion of funds from the sale will be used to establish the Trinity Foundation, a community-focused charity to support the Far North Queensland community. More details about the Foundation will be announced at a later date.
A spokesman for Freedom Fuels said that” quality, well run businesses”, such as Trinity Petroleum, don’t come along every day and that the acquisition provided a great opportunity to connect the existing business in the Southern part of the State through to the Far North, making it one of the largest Independent fuel companies in Queensland.
Editors Note: We wish Mr Pradel well and thank him for being a subscriber and supporter of PetrolWorld on line services for the last 13 years.