Petroleum Marketing Group, a petroleum & convenience retail and wholesale company, has acquired Holt Oil Co. along with its 19 petroleum marketing and convenience retail stores and wholesale dealer business.
Holt is a family-owned business founded by William Holt in and 1930 and originating in Fayetteville, N.C. Through the family’s leadership, Holt expanded its company-operated convenience stores and in 1989, the company opened its first Subway franchise.
“It has been a pleasure to be involved in this family business serving the motoring public for all these many years,” comments Louis Cox, president of Holt. “It has been an honor to work alongside the best group of people I could ask for. We had very specific guidelines in choosing a buyer. I am confident that we made the right choice with PMG.”
Matrix Capital Markets Group served as M&A advisor and Taylor & Gibson PLLC served as legal counsel for Holt in this transaction.