WOODBRIDGE, Va. -- Petroleum Marketing Group Inc. (PMG) has acquired the retail assets of Leonard E. Belcher Inc., including 13 company-operated convenience stores, one new-to-industry c-store and one development property.
PMG has also acquired L.E. Belcher's branded contract dealer accounts and its unbranded wholesale business, located primarily in Massachusetts, Connecticut and Rhode Island.
Springfield, Mass.-based L.E. Belcher is an independent multibranded marketer of petroleum products that began operations in the late 1920s.
PMG, Woodbridge, Va., is a Shell, Exxon, BP, Mobil, Sunoco, Gulf, Crown and CITGO branded jobbership and a leading regional distributor of petroleum products and services in the Mid-Atlantic and Northeast regions of the United States.
Petroleum Capital and Real Estate LLC, Washington, acted as the exclusive financial adviser to PMG.
Matrix Capital Markets Group Inc., Richmond, Va., provided merger and acquisition advisory services to L.E. Belcher.
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