Petroleum Marketing Group Adds Short Stop to Its Portfolio
Summary
The company nearly doubled in size in 1985 with the acquisition of E-Z Shop, a 23-store North Carolina convenience retailer before adding an additional seven Exxon-branded locations to its portfolio in 2004. In 2010, Vance Neals son, Chris, took over as president of the company, and along with his sister, Mary Morketter, continued to build upon their fathers legacy, including the successful implementation of a program to modernize Lil Thrifts IT systems by integrating scanning and fuel equipment software. A related entity owned by Chris Neal, Ace Fueling LLC, will continue to serve as a common carrier hauler for the Short Stop stores. "Matrix was instrumental in shaping the way we went to market, how we evaluated bids and eventually choosing PMG as the successful bidder," said Chris Neal. Larry Parker and Rakesh Parikh of Williams Mullen served as legal counsel for Lil Thrift.