Holtzman Oil to Acquire Cline Energy in 2015
MOUNT JACKSON, Va. — Holtzman Oil Corp. will acquire Cline Energy, operator of Valley's convenience stores, in early 2015. Terms of the deal were not disclosed.
Mount Jackson-based Holtzman Oil will gain 18 gas stations and truck stops in the transaction, and increase its delivery of gasoline by 20 million gallons.
"We are an Exxon supplier and Cline Energy owns Exxon stations," Holtzman Oil owner Bill Holtzman told The Northern Virginia Daily. "It's just a good fit for us."
Holtzman Oil Corp. currently supplies gasoline to about 150 stations in Maryland, Virginia and West Virginia. It also owns Holtzman Propane, Valley Ice, Holtzman Equipment and Construction, as well as several Burger King and Denny's locations.
The company is expected to retain Harrisonburg, Va.-based Cline Energy's workforce.