Mountain Energy has been sold, and the company’s founder has announced his retirement.
First Coast Energy has officially purchased Mountain Energy, the largest gas station and convenience store chain in the mountains.
A new report from the Citizen-Times has revealed that, following the sale of the company, Mountain Energy’s founder Thomas Morgan will now be retiring, as his company exits the market. Morgan spent 44 years in the business. He is now 65.
Included in the all-cash sale to Jacksonville, Fla.-based First Coast Energy are all 20 of Mountain Energy’s stores throughout the mountain region, along with related companies Mountain Tank Lines, Mountain Energy Home Heat and a real estate company, Citizen-Times reported.
Following the sale, all but three of Mountain Energy’s 239 employees were offered employment under First Coast Energy, with one controller and two administrators not being offered jobs, Citizen-Times reported.
First Coast currently operated more than 170 stores in Florida, most of which are branded Daily’s and sell Shell gasoline. According to Citizen-Times, it is likely that the Mountain Energy locations will eventually be rebranded.