Cary Oil

What Cary Oil does

Cary Oil Co., Inc. is a privately-held, family-owned fuel wholesaler headquartered in Cary, North Carolina, distributing nearly 1 billion gallons of gasoline and diesel annually to more than 900 branded retail locations across a distribution network stretching from New Mexico to Pennsylvania. Founded in 1959 (per firmographic data) as a home heating oil delivery service in Cary, the company evolved into a national-scale fuel distributor offering both branded supply (BP, Shell, Valero, Phillips 66, Conoco, Marathon, Chevron, Texaco, Exxon, Mobil, Citgo, 76, Arco, Sunoco) and unbranded supply, plus its own Freedom private-brand program for independent retailers. Its GTM is sales-led and relationship-driven, targeting two SMB segments: independent convenience store retailers and fuel wholesalers who need reliable supply, brand flexibility, credit management, and back-office tooling.

The product portfolio pairs physical fuel supply with an integrated suite of digital and financial services. Core offerings are branded and unbranded fuel delivered through common carriers; layered on top are Snapshot™ (a web/mobile portal for ordering, pricing, invoicing, and regulatory monitoring), PIX™ (card processing powered by Heartland Payment Systems with EMV, fraud, and EBT/SNAP support), TankWise™ (automated tank telemetry and replenishment ordering), and a co-marketed Upside™ consumer marketplace offering that drives foot traffic to retailers. The technology stack is conventional SaaS plus payment processing and IoT-style tank monitoring rather than proprietary AI/ML. Subsidiaries include Petroleum Information Exchange (PIX), Mackenan Property Group, and the recently divested Breeze Thru Markets convenience chain.

Revenue is generated primarily through transaction-based fuel distribution margins and ancillary transaction fees on card processing volume; pricing is quote-based, non-public, and varies by brand, volume, and contract terms. The company is held under Stephenson family ownership through COC Properties, Inc., which rebranded to GenWorks Group, Inc. in February 2026, with a leadership transition in September 2025 bringing Gordon Sinclair in as President and CEO while Craig Stephenson moved to Executive Board Chair. There are no institutional funding rounds, no public listing, and no disclosed revenue or EBITDA figures.

Name

Cary Oil

Legal name

Cary Oil Co., Inc.

Website

https://caryoil.com

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

101–250 employees

Short description

Cary Oil is a privately-held, family-owned fuel wholesaler distributing nearly 1 billion gallons annually to 900+ branded retail locations across the U.S., offering branded and unbranded fuel supply alongside integrated retailer tools for payments, inventory, and digital demand generation.

Ownership category

akta.pro rank

Headquarters

HQ city

Cary

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Fuel Distribution Sales: Cary Oil distributes nearly 1 billion gallons of fuel annually to over 900 branded locations across the U.S. Revenue is generated through the sale of branded and unbranded gasoline and diesel fuel to retailers and wholesalers. The company offers access to numerous fuel brands including BP, Shell, Valero, Phillips 66, Conoco, Marathon, Chevron, Texaco, Exxon, Mobil, Citgo, 76, and Arco.
2. Card Processing Services (PIX™): PIX card processing program powered by Heartland provides payment processing services to fuel retailers and wholesalers with competitive rates, EMV compliance, and fraud protection. Revenue generated through transaction fees and volume-based discounts passed through from Heartland.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Cary Oil is a national fuel wholesaler that distributes nearly 1 billion gallons of branded and unbranded gasoline and diesel annually to over 900 retail locations and other wholesalers across the United States. The company offers access to nearly every major fuel brand (BP, Shell, Valero, Phillips 66, Conoco, Marathon, Chevron, Texaco, Exxon, Mobil, Citgo, 76, Arco) through its terminal network, complemented by the Freedom Private Brand program and integrated technology tools including the Snapshot customer portal, PIX card processing, and TankWise inventory management.

Product overview

Cary Oil is a fuel distribution company offering a portfolio of fuel products and digital tools for wholesalers and retailers. The core offering consists of branded fuels (from 14 major brands including Shell, BP, Exxon, Chevron, and others) and unbranded fuels, complemented by the Freedom Private Brand program for independent retailers seeking an alternative to traditional branding. Digital add-on modules include Snapshot™ (a web/mobile customer portal for order management and business intelligence), PIX™ (credit card processing powered by Heartland), TankWise™ (automated inventory management), and Upside™ (digital marketplace partnership). Together, these products form a comprehensive fuel supply and retail support ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• Freedom Private Brand: A complete private label fuel identity and business package offering gas and diesel fuel with an entire retail program including discounts, rebates, and card processing support.

Products and services

• Branded Fuel Branded fuel offerings distributed through one of the largest terminal networks in the U.S., providing access to 14 major oil brands (BP, Shell, Valero, Sunoco, 76, Citgo, Exxon, Mobil, Marathon, Chevron, Texaco, ARCO, Phillips 66, Conoco) for independent convenience store retailers and wholesalers.
• Unbranded Fuel Top-tier quality unbranded gasoline and diesel fuels offered at competitive prices, distributed through Cary Oil's terminal network spanning from New Mexico to Pennsylvania for independent retailers and wholesalers.
• Freedom Private Brand Complete private label fuel identity and business package for independent retailers wanting independence from major oil brands; includes gas and diesel supply, discounts, rebates, retail programs, in-store traffic tools, and affordable card processing support.
• Snapshot™ Customer Portal Web and mobile customer portal for fuel retailers and wholesalers to place fuel orders, track daily price quotes, view invoices, monitor market updates, review regulatory issues, view mystery shop scores, and access brand-specific marketing materials.
• PIX™ Card Processing Program Credit card processing program for fuel retailers and wholesalers, powered by Heartland; features competitive rates, transparent statements, EMV compliance, EBT/SNAP capability, fraud protection, and AVS/ZIP code verification.
• TankWise™ Inventory Management Automated fuel inventory management solution for fuel retailers that measures tank levels, automatically calls in orders, and monitors the supply environment to protect against run-outs and prioritize sites with carriers.
• Upside™ Digital Marketplace Partnership Digital fuel and food marketplace offering that drives nearby users to Cary Oil retailers through the Upside mobile app, helping fill empty gas pumps and checkouts, reach new customers, and grow retailer profits.

Quantifiable outcome

• 900+ branded locations served
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• GenWorks Group, Inc. (formerly COC Properties, Inc.)coreOthers · 1 September 2025Cary Oil is an operating unit of COC Properties, Inc., which rebranded as GenWorks Group, Inc. in February 2026. The Stephenson family retains ownership. The rebrand affects only the holding company while operating units Cary Oil and Mackenan Property Group retain their existing names.
• UpsidecoreGTM or Marketing PartnerCary Oil partners with Upside, the largest digital fuel and food marketplace in the U.S., to drive nearby users to their retail locations. The partnership helps retailers fill empty gas pumps and checkouts, reach new customers, win gallons, and grow profits.
• Heartland (Global Payments)coreTechnology or IntegrationPIX card processing program is powered by Heartland, an industry leader in fraud protection, customer service, PCI compliance, and transparent reporting. Heartland provides the underlying payment processing infrastructure while Cary Oil offers favorable volume discounts to customers.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Mansfield Energy Corp: Mansfield Energy is one of the largest direct-serve fuel distributors in the U.S., delivering gasoline, diesel, and biofuels to commercial, industrial, and retail customers — closely comparable to Cary Oil's branded/unbranded wholesale model serving independent convenience retailers.
• Global Partners LP: Global Partners is a publicly-traded Northeast fuel distribution and terminal-services company that distributes gasoline and home heating oil to wholesale and retail customers across the eastern U.S. — a direct analogue to Cary Oil's wholesale distribution and terminal-rack strategy.
• Sunoco LP: Sunoco LP distributes motor fuels to independent dealers and other wholesalers across more than 40 U.S. states, with a transaction-fee revenue model nearly identical to Cary Oil's — making it a direct wholesale-fuel peer for distributor-to-dealer gallons.
• ARKO Corp (GPM Investments): ARKO is a leading U.S. convenience-store and wholesale fuel distributor operating ~1,400 sites and a fuel-supply platform that supplies both branded and unbranded product to dealers — highly comparable to Cary Oil's retailer-supply model and Freedom private-brand positioning.

Broad incumbents

• CITGO Petroleum: CITGO is a major U.S. fuel marketer and refiner with branded jobber/loyalty programs supplying thousands of independent retailers — a broad incumbent that both competes for retailer-supply relationships and is one of the brands Cary Oil distributes under its terminal network.
• RaceTrac: RaceTrac is a large private convenience-store and fuel retail chain operating ~600+ company-owned stores across the southern U.S. — a regional incumbent that procures wholesale fuel at scale and competes for the same independent-dealer-adjacent retail market where Cary Oil supplies.
• Marathon Petroleum Company: Marathon Petroleum is one of the largest U.S. refiners and branded fuel marketers, supplying thousands of independently operated Marathon-branded stations — both a wholesale supplier to Cary Oil's branded offering and a broad incumbent competing for retailer-supply contracts.
• Wawa, Inc. Wawa is a large privately-held Mid-Atlantic convenience-store chain operating its own fuel retail program — an incumbent customer-adjacent player that procures fuel at scale and competes indirectly for the same consumer gallons that flow through Cary Oil's independent retailers.
• Pilot Travel Centers (Berkshire Hathaway): Pilot Flying J is the largest U.S. operator of travel centers and truck stops — a broad incumbent that competes for high-volume fuel-retail share and operates its own wholesale-supply logistics analogous to Cary Oil's terminal network.

Others

• Upside: Upside is the largest digital fuel-and-food marketplace in the U.S. and is an active GTM/marketing partner of Cary Oil — an adjacent technology platform that drives incremental gallons to Cary Oil-supplied retailers rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cary Oil