Majors Management Announces Acquisition of the Maritime Farms Convenience Stores of Maritime Energy in Maine

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Dec 21, 2022, 13:23 ET

LAWRENCEVILLE, Ga., Dec. 21, 2022 /PRNewswire/ -- Majors Management, LLC, and its affiliates ("Majors") of Lawrenceville, GA, a recognized retail petroleum industry leader, announces the successful acquisition of the Maritime Farms convenience stores of Maritime Energy ("Maritime"). With 13 convenience locations with full delis located in Midcoast Maine, the acquisition represents Majors' first entry into the State of Maine.

"With the acquisition of the Maritime sites, Majors now operates across the East Coast of the United States from Florida to Maine," stated Majors' President, Ben Smith. "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."

Regarding the transaction, Maritime's President, Susan Ware Page said: "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. 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 (www.petroleumequitygroup.com) provided confidential advisory services to Maritime and is an industry leading, full service advisory company to the downstream motor fuels and convenience store industry. PEG provides M&A services and marketing support, business assessment and valuation analysis, financing, and other industry-related services throughout the US with a concentration on the east coast from Maine to Florida.

About Majors Management, LLC

Lawrenceville, GA-based Majors Management, LLC is an owner, developer and operator of convenience stores and a distributor of high-quality branded motor fuels. Majors and its affiliates supply fuel to over 1,300 convenience store locations. Majors partners with leading petroleum brands including BP, Shell, Chevron, Exxon, Marathon, Citgo, Mobil, Texaco, Valero, Phillips, Sunoco, 76, and Alon. Its current markets include Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Maine. In the last three years, Majors has completed seventeen acquisitions across thirteen states.