The Car and Truck Fleet and Leasing Management Magazine

Wright Express to Acquire Pacific Pride Assets

February 11, 2008

SOUTH PORTLAND, Maine --- Wright Express Corp. has agreed to acquire certain assets of privately held Pacific Pride Services Inc. for approximately $32 million in cash. The transaction is expected to close before the end of the first quarter of 2008.

The U.S. fleet fuel distributor channel represents an important strategic growth opportunity for Wright Express. As a result of the acquisition, Wright Express expects to increase its penetration of the distributor channel by leveraging Pacific Pride's local market presence and brand recognition, as well as its platform and products for commercial vehicle fleets.

Pacific Pride's franchise network encompasses over 330 independent fuel franchisees. The company's network of independent commercial cardlock fueling sites processes approximately 32 million fleet card transactions annually. Pacific Pride was founded in 1984 and is headquartered in Salem, Oregon.

Pacific Pride franchisees issue their own Pacific Pride commercial fueling cards to fleet customers. These cards provide access to fuel at more than 1,000 Pacific Pride and strategic partner locations in the U.S. and Canada. Pacific Pride provides a variety of services to franchisees including training, marketing, advertising, network operations and financial settlement between franchisees.

Pacific Pride generates approximately 80 percent of its revenue from transaction fees. Revenues for 2007 were approximately $7 million. 

"Over the past two years Wright Express has made a large investment in developing a state-of-the-art distributor payment processing and information platform for Pacific Pride, and we are pleased to be taking this relationship to the next level," said Michael Dubyak, president and chief executive officer of Wright Express. "A pioneer in card lock fueling, Pacific Pride has built a great reputation for service and a broad nationwide network of fueling sites."

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

Don McCullagh was the founder and former president of McCullagh Leasing.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher