Musket Corp. and Hoyer form European diesel procurement partnership
Family-owned businesses to leverage downstream fuels expertise
Houston/Visselhövede, Mar. 21, 2023 – Musket Corp., the trading and logistics arm of the Love’s Family of Companies, and Hoyer Trading & Supply GmbH, the supply arm of the Hoyer Group of Companies, today announced they have entered into a strategic partnership to procure diesel in Europe.
“This partnership brings together 157 years of combined privately-owned, family run commodity supply and logistics businesses to fuel the future,” said Frank Love, co-CEO of the Love’s Family of Companies. “We share a common culture that is driven by a focus on long-term value and investment in customer needs. We’ll leverage our newly formed Musket subsidiary in Geneva, Switzerland, to make sure this partnership is successful."
As the European diesel market shifts away from traditional supply chains, Musket and Hoyer will use both companies’ extensive downstream fuels expertise to provide supply in a challenging market.
“In a family business, we choose our partnerships very carefully. We met with the Love family and realized immediately that we share equal visions and values,” said Thomas Hoyer, CEO and owner of Hoyer. “Further, both Love's and Hoyer have chosen identical growth paths, independently from each other on their respective continents. I am extremely excited to explore what we can learn from each other and achieve for our customers when we work together.”
About the Love’s Family of Companies
The Love’s Family of Companies is headquartered in Oklahoma City and employs more than 39,000 people across the United States. Love’s Travel Stops is the nation’s leading travel stop network with more than 600 locations in 42 states. Love’s also includes two Houston-based companies: Musket Corporation, which specializes in commodity supply, trading and logistics across North America, and Trillium Energy Solutions, a leading provider of renewable fuels and alternative fueling solutions, which offers expertise in compressed natural gas, hydrogen, electric vehicle charging, renewable natural gas, solar installation and on-site electricity generation. Gemini Motor Transport is a nationwide motor carrier comprised of 1,100 trucks hauling fuel and refined fuel products included diesel exhaust fluid, propane, ethanol, jet, biodiesel, and specialty products. Love’s has more than 430 truck service centers, which include Speedco and Love’s Truck Care locations. To learn more, visit loves.com or musketcorp.com.
Hoyer, a traditional, independent family-run company since 1924 and headquartered in Visselhövede/lower saxony, is one of the leading downstream energy businesses in Germany. With nearly 2500 employees across 100 national sales offices the company runs approximately 250 own retail stations and supplies B2B and B2C customers with the source of energy they need via its own logistic fleet of over 1300 vehicles. The fuel card extends the own stations by approximately 3000 acceptance stations in 9 European countries. The group's offered products range from diesel, heating oil, liquid gas, (Bio-)LNG and wood pellets to lubricants, marine fuels and AdBlue®. In order to secure the supply of its customers, Hoyer has grown to one of the largest importers of fuel into the German market with access to various sea and river terminals. To learn more, visit hoyer.de [hoyer.de].
Hoyer Media Contact:
Thomas Hartmann, PR
Wilhelm Hoyer GmbH & Co. KG
Tel.: +49 4262 799744
Mobil: +49 151 29222476