Manlius Oil Co. Sells Business as Family Ownership Retires
MANLIUS, Ill. — After 60 years in business, Manlius Oil Co. is saying goodbye to the convenience store and fuel retailing industry as family ownership says hello to retirement.
Manlius Oil sold its assets to Agview FS and Gold Star FS, two companies affiliated with Growmark Inc., an agricultural cooperative serving cooperatives, retailers, businesses, and customers in the United States and Canada.
Established in 1959 by Bill and Carolyn Doty, Manlius Oil Co. is an all-in-one restaurant, convenience store and 24-hour gas station located in Manlius, Illinois. It specializes in delivering gas, propane, heating oil and fuel to residential and commercial clients as well as farmers.
In 2017, Bill passed away and his son Mitch took over the helm of running the company with his mother Carolyn. Despite continued company growth, the Doty family decided it was time to retire.
According to a company statement, the family said they will miss the many customers who helped them build Manlius Oil into what it is today, but are looking forward to retirement, too.
Terry Monroe, founder and President of American Business Brokers & Advisors, and Bill Fecht of WJF Services Inc. provided merger and acquisition advisory services to Manlius Oil, which included valuation advisory, marketing and negotiation of the transaction.