Last updated on June 13th, 2024 at 04:54 pm
All of Leonard E. Belcher’s retail assets and its branded and unbranded wholesale business has been sold to Petroleum Marketing Group (PMG) of Woodbridge, Virginia.
The company’s retail assets acquired by PMG consist of 13 company-operated stores, one new-to-industry store that is scheduled to open in early June and one developmental property. Also included in the transaction was L.E. Belcher’s branded contract dealer accounts and its unbranded wholesale business. The company’s retail assets, branded and unbranded wholesale contracts are primarily located in Massachusetts, Connecticut and Rhode Island.
L.E. Belcher is an independent multi-branded marketer of petroleum products based in Springfield, Massachusetts. It began operations in the late 1920s in Springfield. Charles Hough purchased the business from Leonard Belcher in the early 1950s. The company was sold to Hough’s son, Edward Hough, president, in the 1990s. Under his leadership and direction, and assisted by VP David Ryan, the company expanded its retail and wholesale footprint into a multi-state, multi-branded petroleum distribution enterprise with a reach that has stretched as far south as New Jersey and Pennsylvania.
PMG has recently entered into an agreement to purchase the locations of General Equities Food Bag, they operate 55 Citgo branded locations in CT, MS, NY, NJ and Fla.