Majors Management Acquires 13 Maritime Farms C-Stores

The acquisition marks Majors’ first entry into the state of Maine.

December 22, 2022

LAWRENCEVILLE, Ga.—Majors Management has acquired 13 Maritime Farms convenience stores from Maritime Energy. The convenience stores are located in Midcoast Maine, marking Majors’ first entry into the state.

“With the acquisition of the Maritime sites, Majors now operates across the East Coast of the United States from Florida to Maine,” said Ben Smith, Majors Management president.  “We are honored to carry on Maritime’s legacy of excellent service to their retail fueling and convenience customers and to further enhance Majors’ reputation of closing transactions quickly, efficiently and without disruption.  We are pleased with the first-class support and expertise we received from the Maritime management team and their advisory firm, Petroleum Equity Group, as led by Ken Shriber, managing director.”

The convenience stores average over 3,000 square feet in size. Two locations are Shell branded, one is Sunoco branded, and the remaining 10 are Maritime Farms branded. All facilities have full-service delis and sell beer and wine. Nine of the locations also sell liquor, and there are Dunkin offerings at two sites, one of which also has a car wash.  

Maritime Energy was founded in 1939 by Roland Ware with one Sunoco-branded gas station and a heating oil business with one delivery truck. Following World War II, the company added gas stations and grew into a regional motor fuel and heating oil distributor. Roland’s son, John, took over as president in 1978 and in 1985 decided to venture into the convenience store business.

Later, the company added kerosene, propane and heating system installations and services to its core energy business operations. Susan Ware Page, third generation and president of Maritime, joined the family business in 2001 and under her leadership produced significant company growth.

“I feel that we have found the best match to continue to put our people first, care for the properties and set the stage to lead the business into the future,” said Page. “We will continue to be delivering motor fuels, fuel oils and propane to the stores, so customers can expect the same high-quality fuel products. Due to the experienced guidance that we received and the friendly professional approach shown by the Majors’ team, I have utmost confidence they will be a great fit for the employees and the local community.”

Petroleum Equity Group provided confidential advisory services to Maritime.