Tri-State Petroleum sells to Majors Management

The company has been in the marketing and convenience retail business for 47 years.

Tri-State Petroleum Corporation has sold its 25 company-operated petroleum marketing and convenience retail stores, eight wholesale dealer accounts and two commercial fuels bulk plants located in the tri-state region of western Pennsylvania, northern West Virginia and eastern Ohio to Majors Management LLC and its affiliates.

Tri-State was founded in 1974 by Edward J. Coyne, I and Elizabeth J. Coyne as an Atlantic Richfield distributor of tires, batteries and automotive accessories. In 1976, the company began barging fuel oil through its Wheeling, West Virginia, terminal and bulk plant facility that served chemical, coal and other industrial customers throughout the upper Ohio Valley region. In the late 1980s and early 1990s, the company implemented a strategic plan to expand into retail fuel marketing, by leveraging supply contracts with BP, Exxon, Citgo and Sunoco and acquiring two portfolios from BP in the mid-1990s, including company-operated convenience stores and wholesale dealer accounts. The company continued its path of growth in 2002, when it acquired 18 petroleum marketing and convenience store locations from ExxonMobil Corporation.

In 2012, Tri-State entered into a new branded supply agreement with Marathon Petroleum Corporation, rebranding the majority of its petroleum marketing assets, and has subsequently become one of the leading Marathon distributors and convenience retailers in its trade area.