Bristol Bay Native Corporation (“BBNC”) is a Regional Alaska Native Corporation established under the provisions of the Alaska Native Claims Settlement Act of 1971. The corporation is operated for the sole benefit of its nearly 10,000 shareholders, providing regular quarterly dividends, educational scholarships, and employment opportunities. As part of its strategic plan, BBNC has initiatives to invest both within the greater Bristol Bay region, and specifically in the fuel distribution industry (along with its existing holding of PetroCard). BBNC identified a fuel distribution opportunity within the Bristol Bay region that accomplished those strategic goals.
Zachary Scott was engaged by BBNC as exclusive acquisition advisor to assist in evaluating the business with respect to valuation and structure, coordinating diligence, and reviewing documentation.
BBNC acquired the operating assets of Bristol Fuels, located in Dillingham, AK, where it will continue to operate a 3.0 million gallon tank farm, a marine fueling facility, a propane distribution business, and a retail gasoline station to supply diesel fuel, regular unleaded gasoline, aviation gasoline, Jet aviation fuel and propane to commercial and residential customers in Dillingham, and the surrounding region.