PECKVILLE, Penn. — A family-run Peckville, Penn., fuel oil company has acquired most of the assets of one of the region’s largest energy supply businesses, reports The Times Tribune.
Santarelli and Sons Co., Blakely, doubled its territory and customer accounts with the recent purchase of the majority interests of Airline Petroleum, Dunmore.
‘This is quite a big jump,” said Ken Santarelli, vice president of his family’s fuel oil business. ‘This opportunity is not going to come back.”
Airline Petroleum, which dated to 1936, also sold its propane business to Keystone Propane Service Inc., in Throop.
Neither price was disclosed.
‘The customer base that they have fits right in with our customer base,” said John Grabowski, chief executive at Keystone Propane. ‘It just makes us more efficient.”
The sales mark the continued compression of the business interests of the family of Joseph Gentile, of Factoryville. In 2012, the family sold Dunmore Oil Co. and JoJo Oil Co. and its chain of 23 Joe’s Kwik Marts convenience stores to Lehigh Gas Partners of Allentown for $29 million.
Mr. Santarelli said Mr. Gentile told him he wanted to downsize and spend more time with his family.
The acquisition expands the company’s traditional territory from Dalton to Honesdale and Gouldsboro, to New Milford, Matamoras and Marshalls Creek, Mr. Santarelli said.
‘We are now the biggest in the area,” Mr. Santarelli said. ‘You will see the name Santarelli much more now.”
Read on at The Times Tribune website.