Corporate Backgrounder

Company Name: The Cumberland Gulf Group


  • Lily H. Bentas, Chairman of the Board, The Cumberland Gulf Group
  • Ari Haseotes, CEO, The Cumberland Gulf Group
  • Ron Sabia, EVP, President & COO, Gulf Oil Limited Partnership
  • Mark Howard, EVP, CLO and CAO, General Counsel, and Secretary, The Cumberland Gulf Group
  • Howard Rosenstein, SVP & CFO, The Cumberland Gulf Group
  • John McMahon, SVP & Chief Human Resources Officer, The Cumberland Gulf Group
  • Dave Banks, Chief Information Officer, The Cumberland Gulf Group
  • Dino DeThomas, Chief Real Estate Officer, SVP of Real Estate and Facility Support Services, The Cumberland Gulf Group

Office Location (City/State): 100 Crossing Boulevard, Framingham, MA 01702

Market Area of Current Operations: Massachusetts, Rhode Island, Vermont, New Hampshire, Maine, Connecticut, New York, and Florida. In addition to the states listed above, Gulf Oil has been expanding since January 2010 into a national brand across the United States marketing branded and unbranded petroleum products.

Total Business Portfolio (Brands / Volumes):

The Cumberland Gulf Group serves approximately 2,500 stations within its geographic area. These stations are served primarily through its Gulf brand, but also through the Mobil, Exxon, Sunoco, and proprietary Wave brands. These stations sell over 2.8 billion gallons of motor fuels annually.

Company Background

The Cumberland Gulf Group is a strategic amalgamation of Cumberland Farms, Inc. ("Cumberland Farms" or the "Company") and Gulf Oil Limited Partnership ("Gulf Oil") focused on leveraging the combined management experience and operational expertise of the two entities to create economic efficiencies, facilitate continued dynamic growth, and generate synergistic value propositions. Cumberland Farms is the eighth largest independent convenience store operator by units in the U.S. (according to 2013 Convenience Store News Top-100 report) with a market-leading position throughout the Northeast, as well as a significant presence in the Mid-Atlantic region and Florida. Cumberland Farms is the parent company of Gulf Oil Limited Partnership, one of the largest wholesalers of refined petroleum products in the Northeast and Mid-Atlantic. In 2014, the Cumberland Group generated roughly $16 billion of sales through a footprint of 548 convenience store locations operated under the well-known Cumberland Farms banner, and through the operations of its subsidiary Gulf Oil. The Cumberland Group is a privately-held, family-owned and managed company that includes real estate and mid-stream gasoline operations.


Cumberland Farms was founded in 1939 in Cumberland, Rhode Island by Vasilios and Aphrodite Haseotes with the purchase of a 110-acre farm for the purpose of milk production. Since those early years, Cumberland Farms has evolved into a vertically-integrated owner and operator of convenience stores and gas stations in 8 states along the East Coast. By the late 1960's, the Company had become a well-known retailer throughout the Northeast. In the early 1970's, the Company was one of the pioneers in building the concept of a combination retail store and gas station, understanding the basic convenience needs of its customers. As a result, the Company installed its first gas facility at a Cumberland Farms convenience store in 1971.

By the late 1970's, Cumberland Farms became the second largest convenience store chain in the United States, and the largest privately-owned convenience store chain with over 1,200 stores, 400 gas units, and nearly 10,000 employees. Although the Company has primarily grown organically, Cumberland Farms also entered into certain strategic acquisitions to facilitate further growth. In 1986, the Company acquired the Northeast assets of Gulf Oil, a wholesaler of refined petroleum products, from Chevron. In this transaction, Cumberland Farms purchased in excess of 500 gas stations, 20 refined petroleum terminals, and a perpetual license to Gulf trademarks and trade names in 11 states. This acquisition transformed the Company into a vertically integrated convenience store and petroleum provider. In 1993, Cumberland Farms entered into a joint venture with Catamount Petroleum LP, and transferred the terminal and distribution assets to the newly formed entity, Gulf Oil Limited Partnership.

In 2003, the Company purchased certain Exxon branded gas station assets in New York and the Northeast from ConocoPhillips. The acquisition included approximately 200 gas stations, the petroleum supply agreements for those stations, and the rights to use the Exxon trademark and trade name in 7 states until early 2010.

In June of 2005, the Company implemented its long-term strategy with respect to Gulf Oil and exercised its option to reacquire the remaining partnership interest from Catamount Petroleum LP. Subsequent to the transaction, a new management team was established at Gulf Oil. This team has spent the last several years enhancing the brand image and building the corporate infrastructure required to support a robust growth platform.

In January 2010, the Company purchased the "Gulf" brand from Chevron and began an aggressive marketing campaign to make the Gulf name a national presence once again.

Gulf Oil distributes motor fuels through a network of 2,400 Gulf branded gas stations and service stations, as well as heating oil, diesel fuel, and kerosene. The Petroleum Distribution Division (the "PD Division") is responsible for the delivery of petroleum products to all of the Cumberland Group's Company Operated Stores, as well as its Contract and Assured Dealers. Annually, the PD Division coordinates the delivery of 1.2 billion gallons of petroleum products. This equates to 125,000 deliveries either with its own proprietary transports or by third party haulers. The PD Division has almost 72 petroleum transports strategically domiciled at 10 truck terminals spread throughout Gulf Oil's market area in the Northeast. In total, Gulf Oil distributes nearly 1.6 billion gallons in branded gasoline per year. The branded franchise business involves Gulf Oil distributing branded products to the approximately 2,400 stations flying the Gulf flag.

Through Great Island Energy, Gulf also distributes approximately 1.2 billion gallons of unbranded product annually to its wholesale distributors and retailers, and earns revenue storing and distributing product ("throughputting") for third parties through its proprietary terminals.

Today Cumberland Farms is the largest convenience store and petroleum marketer in the Northeast, and the Company proudly maintains the Haseotes' original vision of delivering the highest level of convenience and customer satisfaction at attractive prices.