Petroleum Marketing Group (PMG) continued its growth in the convenience-store industry this week with the acquisition of nine c-stores and one travel center from Springer Eubank Co. Inc.
The acquisition of Springer Eubank’s TC&G Division (travel center, convenience and gas) by a PMG affiliate includes all retail assets and the fuel transport division.
The Springer Eubank Co., Wilmington, North Carolina, dates back to the 1800s when Springer Coal and Eubank Oil began marketing petroleum products in the coastal Carolinas. In 1976, they merged to form Springer Eubank Oil Co. It was then acquired in 2004 by W. Cecil Worsley III and renamed Springer Eubank Co. Inc.
Springer Eubank’s TC&G Division is comprised of nine company-operated Phoenix Mart convenience stores, the Phoenix Travel Center, one cardlock site, six dealer/agent-operated sites and one greenfield landbank, all located in North and South Carolina.
The stores market major fuel brands, including Amoco, Exxon and Sunoco.
Full article at Petroleum Marketing Group Adds Another 10 Stores (cspdailynews.com)