April 8, 2010 (FinancialWire) — World Fuel Services Corp. (NYSE: INT) said that its wholly-owned subsidiary, World Fuel Services, Inc., has signed a definitive agreement to acquire select assets of Lakeside Oil Co., Inc., including the assets comprising Lakeside’s wholesale motor fuel distribution business.

World said that the purchase will be funded from the company’s cash on hand.

Wisconsin-based Lakeside had 2009 volume of around 350 million gallons, according to World. The firm is a branded distributor for BP Products North America, (NYSE: BP), ExxonMobil CORP. (NYSE: XOM), CITGO Petroleum Corp. and a licensee for Clark Brands, LLC.

The firm distributes gasoline and diesel fuel under long-term contracts to more than 250 retail operators in Wisconsin and Minnesota and is also a supplier to industrial, commercial and government customers.

The transaction, which World expects to be $0.06 to $0.08 accretive to earnings in the first twelve months, is subject to customary closing conditions and is scheduled to be completed within the next ninety days.

Florida-based World Fuel Services is engaged in the marketing and sale of marine, aviation and land fuel products, as well as related services. The firm delivers services to its clients at more than 6,000 locations in 200 countries, including airports, seaports, tanker truck loading terminals and other customer storage locations.

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