PITTSBURGH -- Expanding its retail operations to 70 convenience stores and rebranding them to the newly acquired Par Mar Stores brand, Croton Holding Co. has purchased Par Mar Oil Co., Marietta, Ohio.
As reported in a McLane/CSP Daily News Flash, the 52 Par Mar convenience stores are located in and around southwestern Pennsylvania, eastern Ohio, West Virginia and northern Kentucky.
Croton will rebrand its existing retail facilities, mostly branded BP, in western Pennsylvania under the Par Mar Stores brand, bringing that chain's "high-quality image and standards" to the Pittsburgh market.
"We believe that the Par Mar Stores brand can add value to our locations in the Pittsburgh area and provide a fresh new look," Robert J. Monahan, CEO of Countrywide Petroleum Co., a unit of Croton.
Joseph Grow and James Hollister established Par Mar Oil in 1967, starting out as a full-time petroleum operator and later focusing on the convenience-store business under the ownership of William Hollister.
The acquisition of Par Mar adds to the recent growth of Croton.
In 2013, it acquired Superior Petroleum Co., a leading fuels distributor who partnered with BP, CITGO, Sunoco and Valero to supply petroleum fuels in Pennsylvania, eastern Ohio, Maryland and West Virginia. Since 2013, Croton has expanded its territory across Ohio and into Kentucky.
In February 2015, Croton became the leading distributor for the Sunoco and Valero brands in northeast Ohio through its acquisition of Countywide Petroleum Co., a fuels distributor based in North Royalton, Ohio. The acquisition of Countywide also added the Marathon and Clark brands to Croton's inventory of brands. Subsequent to the acquisition, Countywide Petroleum and Superior Petroleum merged, continuing its operations under the name of Countywide Petroleum.
Expanding its scope in the energy industry, Croton acquired Ravenna Oil Co. in the summer of 2015. Located in Ravenna, Ohio, Ravenna Oil was established in 1931 and saw three generations of Wise family ownership until the acquisition by Croton.
Ravenna supplies liquid fuels, heating, ventilation and cooling services, engine and industrial oils and grease and transportation services of petroleum products. Since the acquisition, Ravenna Oil has expanded its transportation fleet by eight transports and trailers, and it is preparing for substantial capital improvements to its headquarters.
With the acquisition of Par Mar, Pittsburgh-based energy holding company Croton employs more than 1,200 people; owns and operates 70 convenience stores and gas stations in Ohio, Pennsylvania, West Virginia and Kentucky; operates 16 quick-service restaurants, including Subway, Quiznos, A&W and Fazolis; and sells more than 200 million gallons of petroleum products under the brands of BP, CITGO, Clark, Exxon, Marathon, Shell, Sunoco and Valero to more than 300 customers located in Ohio, Pennsylvania, West Virginia, Maryland and Kentucky.
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