Springer Eubank Company Sells to PMG Affiliate

The deal includes the company’s c-stores, travel center and fuel transport divisions.

November 02, 2023

An affiliate of the Petroleum Marketing Group has acquired North Carolina-based Springer Eubank Company and its assets, including the travel center & convenience and gas division (TC&G) as well as its delivered fuels and fuel transport divisions.

Springer Eubank’s TC&G division is comprised of 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, North Carolina, 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 foodservice, with two Subways and one Jimmy John’s.

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.

Springer Eubank dates back to the 1800s when Springer Coal and Eubank Oil began marketing petroleum products in the coastal Carolinas. In 1976, they merged to form Springer Eubank Oil Company, which was then acquired by W. Cecil Worsley III and became Springer Eubank Company Inc. in 2004.