SHERMAN, Texas (KTEN) — Sherman-based Douglass Distributing — which has supplied petroleum products across North Texas and southern Oklahoma for more than 40 years — will now be known as Offen Petroleum.

Douglass sold its wholesale business to Offen, which is based in Commerce City, Colorado. The owners of both brands go back to when they worked together at ExxonMobil before starting up their own businesses.

"We have built a strong and successful wholesale fuel business over the past 40 years, and are proud of our hard-working and dedicated team members," said chief executive officer Bill Douglass in a written statement. "We are pleased that Offen also recognizes the value and contributions of our team members, and, as a result, Offen will be retaining virtually all of the people who have supported our wholesale businesses."

The tank trucks that carry the familiar Douglass Distributing logo are already being rebranded to Offen Petroleum. 

Douglass said it distributes more than 200 million gallons of fuel every year. Offen plans to make its Sherman acquisition a regional operations center.

Douglass Distributing also operates 23 Lone Star convenience stores across North Texas which were are not part of the Offen transaction. Bill Douglass said an announcement about that part of the business is expected next week.