Colonial Group Acquires Foster Fuels

Brookneal, VA. & Savannah, GA ( August 28) — Foster Fuels, Inc. announced that it has entered into an agreement to be acquired by Colonial Group, Inc. Colonial is a Savannah-based, family-owned and -operated, diversified family of companies that specialize in energy, chemical, logistics and transportation sectors. 

According to the company, Foster customers, employees and business partners can expect continuity of service through operations, services and relationships. Foster will continue to serve customers under the same brand and leadership. Foster and Colonial share a commitment to preserving what makes Foster successful, while providing additional resources and long-term investment to support future growth. 

This partnership positions Foster for continued growth, while strengthening its ability to serve customers throughout and beyond their current service areas. By joining Colonial, Foster will gain access to additional resources, expanded capabilities and long-term investment that support the company’s future. 

Also founded in 1921, Colonial is headquartered in Savannah, Georgia. Colonial was established with similar values and a similar mission to those that have guided Foster Fuels for more than a century. Foster believes the strong alignment between the two organizations’ cultures, leadership philosophies and commitment to customers made Colonial the right partner for the future. Both companies were built on the belief that long-term success comes from serving customers well, investing in employees, operating with integrity and strengthening the communities they call home. 

While the acquisition will expand the combined organization’s capabilities and geographic reach, leaders from both companies view the announcement as something far more significant than a business transaction. 

“Deciding to sell our century-old family business was hard,” said Watt Foster, CEO of Foster Fuels. “Deciding who to sell it to was easy. It was about culture, longevity, honor and values. Those qualities ensure that your employees and customers will be well taken care of. Foster has been doing business with Colonial for decades and I know the future of our great company is in good hands. Together, we will be better.” 

“From the beginning, we recognized that there was something incredibly unique about Foster Fuels,” said Christian Demere, president and CEO of Colonial Group. “We were impressed by the business and its capabilities, but we were even more impressed by the people we met and the culture they have built. It is rare to find two companies, each with more than a century of history, whose values, cultures and commitment to their customers and communities align as closely as ours do.” 

Foster and Colonial share a belief that businesses have a responsibility to strengthen the communities they serve. Foster’s longstanding tradition of community involvement, including the impact of the Foster Foundation, reflects values that closely align with Colonial’s own commitment to service and stewardship. The Foster Foundation will remain an independent organization, and both companies remain committed to supporting the communities they call home. 

All Foster Fuels employees are expected to continue with the organization, and customers will continue working with the same team they know and trust. Colonial is committed to supporting employees throughout the integration process while building upon expertise, relationships and customer focus.

Together, the companies are committed to ensuring the values, relationships, and service that defined their first century continue to guide its next. Financial terms of the transaction were not disclosed. The acquisition is expected to close October 1, 2026, subject to customary regulatory approvals and closing conditions.