Coen Oil Acquires 15 Stations in Pennsylvania, Maryland
Picks up six Kwik King sites, seven Ashbridge Oil sites, two independent sites
WASHINGTON, Pa. -- Coen Oil Co. is expanding its convenience store network, purchasing all six Kwik King stores in Pennsylvania from Kwik King Corp.; all seven stores in Pennsylvania and Maryland from Ashbridge Oil Co. Inc.; and two separate stores in Brilliant and McMurray, Pa., reported The Weirton Daily Times.
As reported in a Raymond James/CSP Daily News Flash earlier today, with the acquisitions, the Washington, Pa.-based company now oversees 31 stores in four states--Pennsylvania, Ohio, West Virginia and Maryland, the report said.
"The Ashbridge and Kwik King acquisitions, in addition to the two individual sites, demonstrate Coen Oil's commitment to the retail convenience business," Andy McIlvaine, Coen Oil president, told the newspaper. "While we have owned and operated our current sites for several years, we see the need to continue to expand our footprint and offering to our customers."
Toronto, Ohio-based Kwik King is a full-service c-store chain offering a selection of hot and cold foods, including its signature Kwik King fried chicken. The stores also offer coffee, fountain, soda, beer and wine, snacks, confections, tobacco, lottery and household and personal care products. Some locations also offer catered food.
The dairy products are supplied by Martins Ferry, Ohio-based United Dairy Inc.
All are equipped with state-of-the-art gasoline dispensers offering the Sunoco and Marathon fuel brands.
Coen acquired the six Kwik King stores--two in Toronto, and one each in Steubenville, Weirton, Wintersville and Follansbee, Pa., from John and Rita Riley, who spent the past 25 years building the brand, according to the report.
"We believe we have established a strong brand that has positive recognition in its markets for its distinctive product offering," John Riley told the Daily Times. "We are pleased to be able to sell the Kwik King business to Coen Oil and are confident that they can continue to grow and expand this platform."
Coen Oil is remodeling the Brilliant and McMurrary locations. It expects to open them in late March or early April, according to the company's website.
No additional details were available at press time about the acquisition of Johnstown, Pa.-based Ashbridge Oil.
In 2011, Coen Oil acquired Zappi Oil Co., a move which company officials said had served to bolster their commercial fuel distribution business, reported the paper.
"The Zappi acquisition was an important strategic move for our company," McIlvain said. "While we have had a commercial fuel business for many years, the Coen-Zappi combination allowed us to materially enhance our offering to our commercial customers, including the drillers in the Marcellus shale as well as the Utica shale regions. Importantly, our retail platform helps service our commercial fuel customers. Coen Commercial customers, including fuel drillers, can use our stores for gasoline, diesel and off-road fuel, as well choose from the several products we offer inside our stores including food, beverages and household/personal care products."
Coen's original holdings include a group of stores in the Washington, Pa., area, stretching east as far as Latrobe and as far south as New Martinsville, said the report, all offering gasoline and other fuel products mainly under the BP brand, as well as Exxon and Sunoco.