Colonial Group has agreed to acquire century-old, family-owned Foster Fuels to expand its diversified energy, fuel, and emergency response services across commercial and industrial markets. The strategic union preserves Foster’s established brand, leadership, and workforce under continued local operations while uniting two legacy companies with shared values. The transaction is slated to officially close on October 1, 2026, pending customary regulatory approvals.
Savannah, Ga | August 28, 2026 – Colonial Group, Inc., a diversified family-owned company based in Savannah, Georgia, has entered into a definitive agreement to acquire Foster Fuels, a Virginia-based provider of fuel, lubricants, propane, and mission-critical emergency energy services.
The acquisition unites two organizations with deep historical roots dating back to 1921. Over more than a century, both companies have evolved from regional providers into diversified industry leaders while maintaining core family values centred on integrity, service, and stewardship.
Expanding Capabilities and Reach
The strategic alignment significantly broadens Colonial Group’s footprint and strengthens its service capabilities across commercial, industrial, residential, agricultural, and transportation sectors. Beyond standard bulk fuel and propane delivery, Foster Fuels brings specialized expertise through its Mission Critical division, which provides guaranteed emergency fuel response for vital industries and natural disaster relief efforts nationwide.
“From the beginning, we recognized that there was something incredibly unique about Foster Fuels. 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,” said Christian Demere, president and CEO of Colonial Group. “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.”
Preserving Legacy and Leadership
Following the transaction’s close, Foster Fuels will continue to operate under its established brand and current leadership structure, ensuring absolute continuity for customers, partners, and local communities. All Foster Fuels employees are expected to transition to the new ownership structure, retaining the localized responsiveness and deep-rooted relationships that have defined the company for generations.
“Deciding to sell our century-old family business was hard. Deciding who to sell it to was easy,” said Watt Foster, president and CEO of Foster Fuels. “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.”
Additionally, the Foster Foundation will remain an independent entity, ensuring that the family’s longstanding tradition of community engagement and local support in Virginia will endure.
Financial terms of the transaction were not disclosed. The acquisition is slated to officially close on October 1, 2026, pending customary regulatory approvals and closing conditions.
About Foster Fuels
Established in 1921, Foster Fuels, Inc. is a fourth-generation, family-owned wholesale fuel distributor headquartered in Brookneal, Virginia. The company serves residential, commercial, agricultural, transport, and industrial customers, offering fuel delivery, bulk water delivery, emergency fuel services, and fuel quality services. Committed to innovation, Foster Fuels delivers high-quality products and exceptional customer service.
About Colonial Group, Inc.
Colonial Group, Inc. is a fourth-generation, family-owned company headquartered in Savannah, Georgia. Founded in 1921, the company has grown into a diversified organization serving customers across the energy, chemical, logistics, and transportation sectors. Guided by a commitment to integrity, service, entrepreneurship, and family values, Colonial Group operates a portfolio of businesses that support critical industries and communities throughout the United States.
Source: Colonial Group