PMG Group acquires 10 stores from Springer Eubank
Locations include 9 convenience stores and 1 travel center alongside the company’s fuel transport division.
North Carolina-based Springer Eubank Company has sold its retail and transport assets to an affiliate of Petroleum Marketing Group. The sale includes the travel center & convenience & gas (TC&G) division alongside its delivered fuels and fuel transport divisions.
Springer’s TC&G division comprises nine company-operated convenience stores, one travel center, one cardlock, six dealer/agent operated sites and one greenfield landbank site located in the greater Wilmington, NC area, as well as eastern South Carolina.
The convenience stores operate under the “Phoenix Mart” banner, while the travel center is branded “Phoenix Travel Center.” The stores market major fuel brands including Amoco, Exxon and Sunoco and three locations feature the Company’s proprietary “Coastal Fuels” gasoline and diesel. Three locations offer QSR foodservice, including two Subways and one Jimmy Johns.
The origin of Springer Eubank dates back to the 1800’s when Springer Coal and Eubank Oil began marketing petroleum products in the coastal Carolinas. In 1976, they merged to form Springer Eubank Oil Company, and in 2004 was acquired by W. Cecil Worsley, III and became Springer Eubank Company, Inc.
The delivered fuels segment operates out of the Company’s bulk plant located near the port of Wilmington and distributes diesel, gasoline and kerosene to a variety of commercial and marine customers. Springer Eubank’s fuel transport division supports both the TC&G and delivered fuels divisions and consists of a fleet of nine transports.
