ALEXANDRIA, Va.—True North Energy LLC, a joint venture between the Lyden family and Shell Oil Company, has acquired Titletown Oil Corp. The acquisition includes 19 fuel and convenience retailing locations and three unattended fueling locations. The transaction also includes Titletown’s wholesale fuel operations which supply Shell and BP branded fuel to over 70 locations, as well as its fuel transportation assets.
“Their network of stores combined with the robust retail car wash business built by Dan and Lori presented us with a fantastic opportunity to expand our footprint in the Midwest while adding premium locations to our growing portfolio,” said Mark E. Lyden, True North president and CEO. “True North will continue to provide area customers with quality products, exceptional service and competitive fuel prices. We recognize customers have a choice where they purchase their fuel and convenience items, and we strive to be the customers’ brand of choice.”
Titletown Oil owners Dan and Lori Pamperin said that the idea of selling their family-owned business to another family-owned business is a perfect fit because of their shared sense of family values and commitment to their employees and customers.
True North’s footprint includes the Chicago, Cleveland, Columbus, Dayton, Toledo, Youngstown, Detroit, Traverse City and now Green Bay markets.
Meanwhile, Mountain Express Oil Company has acquired Texon Oil Inc. represented by Petroleum Equity Group (PEG). The assets, all located in the central and southern New Jersey and eastern Pennsylvania markets, consist of a portfolio of 24 Sunoco branded retail gas locations.
“We couldn’t be more pleased with the full range of advisory services provided by fuels industry-veteran Ken Shriber, managing director of PEG, who guided us and helped manage the entire process from start to finish. The decision to sell and exit the business is a difficult one, and we could not have achieved our objective without Ken’s extensive knowledge, experience and skill set,” said Texon Oil Managing Member Parminder (Perry) Singh.