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Gate Petroleum is a privately held diversified corporation headquartered in Jacksonville, Florida. In FY 2008, the company ranked #338 on the Forbes list of America's Largest Private Companies.[1] According to Forbes, it had sales of $1.44 billion and employed approximately 3,500 people, while Jacksonville Business Journal indicated 2,200 employees in that same year.[1][2]
[edit] HistoryHerbert Hill Peyton started the company in 1960 with a single gas station. The company grew throughout the ‘60s selling gas in the southeast. In 1972, due the oil crisis, the company began to diversify and added convenience items to their filling station shelves. In the early 1980s, Peyton transformed the company from being primarily a petroleum retailer to a diversified conglomerate. He bought the Florida real estate holdings of Stockton, Whatley, Davin & Co., which was then owned by Phillips Petroleum Company. The purchase included more than 50,000 acres (200 km2) of land in northeast Florida. Epping Forest, former estate of Alfred I. du Pont, was acquired from Raymond K. Mason, at the time, Chairman of the Charter Company, in 1984. Gate Petroleum continued to expand its diverse holdings through the 1980s and 1990s.[3]  Filling stations and convenience stores are still the core business of the company. Jacksonville's current mayor John Peyton is the son of company founder Herb Peyton and is on leave from Gate while serving as mayor. In Jacksonville, Gate is Northeast Florida's 16th-largest private sector employer.[2] [edit] Divisions[edit] Building MaterialsThe Gate Construction Materials division consists of two companies. Gate Precast manufactures architectural precast at facilities in Sarasota & Kissimmee, Florida; Monroeville, Alabama; Oxford, North Carolina; Ashland City, Tennessee; Dallas, Texas; Winchester, Kentucky and until it closed due to lack of market demand, Little Rock, Arkansas. Gate Concrete Products manufactures structural precast and hollow core concrete fabrication at facilities in Jacksonville, Florida and Pearland, Texas. The Gate Construction Materials division operates throughout the eastern, southeastern, and midwestern United States.[4] [edit] Resorts and ClubsThe company owns and operates four private clubs in the Jacksonville area:
[edit] Real Estate DevelopmentGL National (Gate Lands) is the commercial real estate division of Gate. Epping Forest, the 58-acre (230,000 m2) former estate of Alfred I. du Pont, was developed into the Epping Forest Yacht Club and the Epping Forest gated community, comprised of 90 - $1 million homes and 80+ condominiums. Other real estate projects have included Deerwood Park, a 1,000-acre (4.0 km2) office park on the south side of Jacksonville and the adjacent Southpoint Office Park, the Shops at Ponte Vedra, the Shops at Bartram Walk, Riverplace Tower (28 stories currently bearing the Wachovia name) and the 5,400-acre (22 km2) Cummer Trust Property in northern St. Johns County. Kendall Town at Regency was Gate's most recent endeavor. Gate Maritime Properties (GMP) handles waterfront industrial land, primarily at Blount Island. In 1986, the United States Marine Corps established the Biennial Maintenance Command (BMC) at Blount Island, Jacksonville, Florida on 262 acres (1.06 km2) leased from GMP for $11M per year. The lease between GMP and the Marine Corps was due to end in 2004, and in 2000, the Corp stated their intentions to purchase the property when the lease expired. The Marine Corps budget included $115.7 million for the acquisition, but extended negotiations did not result in an agreement. Gate contended that the land was worth between $160M and $200M, so in August 2004, the Marine Corps seized 1,100 acres (4.5 km2) on Blount Island (Gate's entire Blount Island holdings) by eminent domain and paid $101M (later increased to $106M). When land is seized by eminent domain for uses that benefit the public, the government is required to pay landowners "just compensation", so Gate asked for a jury to decide the land's value. On November 14, 2005, a jury determined that the government should pay $160M for the parcel.[6] Ponte Vedra Club Realty is a full service real estate company in business since 1937. Gate Title Company offers title insurance and closing services in north Florida. Their first office opened in December 2006 at Ponte Vedra with a staff of 4.[7] [edit] Gate MarketingGate Retail Stores encompass 225 gas and convenience stores in 6 states. The retail management is split into two divisions. The southern division in Jacksonville encompasses Gate stores in Florida, and the northern division, managed from Charlotte, NC controls the stores in Georgia, South Carolina, North Carolina, Virginia and Kentucky. Gate Fleet Service is a fleet management tool to provide control of purchases and increased driver accountability. The Universal Card is affiliated with Voyager, accepted at 200,000+ locations. The Gate Private Label Card is accepted at all Gate stores. Gate Fuel Service, distributes fuel throughout Florida, Georgia, the Carolinas, Virginia, Kentucky, and Louisiana, including to convenience stores owned by Gate Petroleum.[8] Gate Lubricants, initiated in September 2003, supplies lubricants. [edit] Gate Sponsored EventsGate sponsors numerous civic activities and charitable events in the Jacksonville area. The most well known is the Gate River Run, the 15K US National championship race that attracts more than 15,000 runners each year—the largest 15K in the USA. Another big event is the Gate Open, a charity golf tournament for the area’s best amateur and professional golfers. [edit] Gate FoundationOn September 24, 2008, Gate Petroleum's parent company, Gate Corporation, officially announced the establishment of the GATE Foundation, the philanthropic affiliate of Gate companies. The announcement was made during Gate’s annual charity golf tournament at the Ponte Vedra Inn & Club.[2] The 501(c)(3) non-profit, tax-exempt entity was established “to support efforts and services that nurture and protect the well-being of family and community,” according to its’ mission statement. Hill Peyton, son of company founder Herb Peyton, was named President and Chairman of the GATE Foundation. The foundation’s first major gift was $100,000 to Big Brothers Big Sisters (BBBS) of Northeast Florida.[2] [edit] FutureGate Ethanol and Hamilton County, Florida officials reached an agreement in early 2004 for Gate to build a $160 million ethanol plant on 90 acres (360,000 m2) north of White Springs, Florida. The plant would have the capacity to produce 50 million gallons of ethanol annually and employ almost 50. In late 2006, the company announced that due to soaring costs of construction and the fluctuation in the price of ethanol, their original plan was no longer viable and would be scrapped.[9] In October, 2007 Gate Biofuels announced plans to construct a terminal at the port in Jacksonville to receive and store Ethanol, which would be blended with gasoline before distribution to gas stations. Nationwide, ethanol production increased 33% from the prior year creating an oversupply because few distributors were prepared to perform the blending process. Another product under consideration is biodiesel, which is made from natural oils. The $90 million, 55 million gallon facility will have both rail and ship capabilities and is expected to be completed in 2010.[10][11] [edit] References
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