Colonial Group, Inc. to Acquire Foster Fuels, Uniting Two Family-Owned Companies with Shared Values

Savannah, Ga. and Brookneal, Va. – August 28, 2026 –Colonial Group, Inc., a Savannah-based diversified family of companies, today announced that it has entered into an agreement to acquire Foster Fuels, a Virginia-based provider of fuel, lubricants, propane, and mission critical energy services. Through its Mission Critical services, Foster Fuels offers guaranteed emergency fuel response in critical industries as well as for natural disasters.

The acquisition will expand Colonial's presence and strengthen its ability to serve commercial, industrial, residential, agricultural, and transportation customers with an expanded portfolio of energy products and services. Together, the organizations will build upon a shared commitment to operational excellence, customer service, and long-term growth.

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Founded in 1921 and headquartered in Brookneal, Virginia, Foster Fuels has grown from a local fuel provider into a diversified energy company known for dependable service, industry expertise, and strong community involvement throughout the region. For more than a century, generations of the Foster family have built more than a successful company; they have built a legacy rooted in service, trust, and a deep commitment to the communities they serve.

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.

Colonial leaders believe Foster's culture is its greatest asset and see a remarkable alignment between the values that have guided both organizations for generations. Both companies were built by families who believed business should create value beyond the products and services they provide, leading with integrity, service, stewardship, and a commitment to their communities.

"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."

Under Colonial Group ownership, Foster Fuels will continue operating under its established brand and leadership, building upon the reputation and relationships that customers have trusted for generations. The companies share a commitment to preserving what makes Foster successful while providing additional resources and long-term investment to support future growth.

"Deciding to sell our century-old family business was hard. Deciding who to sell it to was easy," said Watt Foster, 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. Together we will be better."

All Foster Fuels employees are expected to remain with the organization. Colonial is committed to supporting employees throughout the integration process and building upon the expertise, relationships, and customer focus that have driven the success of both companies.

Customers can expect continuity throughout the transition process, including the same trusted relationships, service commitments, and day-to-day support they have relied upon for years. The objective is not to change what customers value most about Foster Fuels, but to strengthen those capabilities through additional resources, expanded opportunities, and long-term investment while preserving the local service and responsiveness that have long distinguished the company.

Colonial and Foster also 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.

As the combined organization looks toward the future, its focus remains clear: honoring the legacy that generations of the Foster family and Foster Fuels employees have built while creating new opportunities for employees, customers, and communities. Together, the companies are committed to ensuring the values and relationships that defined their first century continue to guide the 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.

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.

About Foster Fuels
Established in 1921, Foster Fuels, Inc. is a fourth-generation, family-owned wholesale fuel distributor headquartered in Brookneal, VA. 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.