Holtzman Oil Corp., based in Mount Jackson, Va., is set to purchase Cline Energy of Harrisonburg, Va. in a transaction that is expected to be completed at the beginning of 2015, according to NVDaily.com.
“We are an Exxon supplier and Cline Energy owns Exxon stations,” Bill Holtzman, owner of Holtzman Oil Corp. told NVDaily.com. “It’s just a good fit for us.”
Cline Energy owns 18 gas stations and truck stops in Rockingham and Page counties of Virginia. Holtzman Oil, meanwhile and one of the largest employers in Virginia’s Shenandoah County, and supplies gasoline to about 150 gas stations in Maryland, Virginia and West Virginia. Holtzman Oil also supplies heating oil for residents in the region.
With this acquisition, Holtzman Oil plans to grow its 250-person workforce by retaining Cline Energy employees and increase its delivery of gasoline by 20 million gallons, according to NVDaily.com.