Shaws Petroleum is to be swallowed up by Midlands Co-operative Society after the company's managing director, Paul Sykes, agreed to sell his company for an undisclosed amount. Shaws, who has led the company for 35 years, saw his company record a £30.5 million profit last year, £22.2m of which came from fuel sales. The company has five fuel service stations actively trading at present.
“We can confirm that we have acquired Shaws Petroleum Limited. Shaws Petroleum has become a subsidiary company of Midlands Co-operative Society, with sites located in Ripley, Barnsley, Sutton in Ashfield and two in Huddersfield,†commented a spokesperson for Midlands Co-operative Society.
Among the initiatives undertaken by Shaws during his two decades as a major figure in petroleum industry include his time as president of the Petrol Retailers Association in the mid-1990s, and a campaign he undertook to have the Office of Fair Trading look into undercutting by major supermarket chains.