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Fifth Third Securities Advises Convenience Store Operator Par Mar Oil on Sale to Croton.

MANews-(C)2009-2016

8 April 2016 - US-based financial services firm Fifth Third Securities, Inc. (NASDAQ: FITB) served as the exclusive financial advisor to US-based Par Mar Oil Co. on its recent acquisition by Croton Holding Co., the firm said.

The closing of the transaction represents the second downstream petroleum M/A deal for Fifth Third Securities this year, coming shortly after CST Brands' USD 425m acquisition of Flash Foods, Inc. in February.

Fifth Third represented the seller, Flash Foods, in that transaction.

Based in Marietta, Ohio, Par Mar Oil Co. operates 52 convenience stores and several car washes in West Virginia, Ohio and Kentucky, which are branded with BP, Shell, Marathon and Exxon fuel.

The company also includes 16 quick-service restaurants, branded as Aand W, Fazoli's, Quiznos, Subway and Par Mar's proprietary food service.

Country: USA

Sector: Wholesale/Retail

Target: Par Mar Oil Co

Buyer: Croton Holding Co

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Apr 8, 2016
Words:169
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