Press Release: Sale of Evaroni’s Pizza to Moore Dough, Inc.
On December 16th, 2019, Adena Business Advisors, LLC, successfully completed the sale of substantially all of the assets of Evaroni’s Pizza to Moore Dough, Inc.
Opened in 1967, Evaroni’s Pizza Restaurant has been serving pizza, pasta, salad, and beverages to the residents of Ceredo/Kenova/Huntington, West Virginia for over 5 decades.
On December 16th, 2019, Adena Business Advisors, LLC, successfully completed the sale of substantially all of the assets of Evaroni’s Pizza to Moore Dough, Inc.
Opened in 1967, Evaroni’s Pizza Restaurant has been serving pizza, pasta, salad, and beverages to the residents of Ceredo/Kenova/Huntington, West Virginia for over 5 decades. A community staple, the restaurant is located right in the heart of downtown Kenova, WV on the high-traffic Highway 60, the main road thru town, and offers both dine-in and take out options. With regular operating hours of 4:00 PM to 10:00 PM Tuesday thru Sunday, the business has been extremely profitable for years even considering its limited operating hours and single location. The founders, William and Ethel Evans, passed away in 2016 and 2018, respectively and the business was devised to their children, William Evans, Jr, of New Hampshire and Karen Collier of West Virginia.
The new ownership group consists of Larry, Bridget, and David Moore. David Moore will be working as the General Manager and head of Day to Day Operations while Bridget Moore will handle duties at the Drive Thru as Take-Out Manager. Larry Moore will act as Business Manager/Evening Host while maintaining his current daytime job outside of restaurant.
The Evans family was represented by their long-time CPA, Clifton “Skip” Looney of Charlotte, NC (formerly of Ceredo, WV) and attorney M. Edward Cunningham, II of Dinsmore & Shohl LLP, Huntington, WV.
Evaroni’s Pizza is located at 914 Oak St, Kenova, WV 25530.
Press Release: Sale of C.R. Mullis Oil & Heating Co., Inc., to Great Lakes Petroleum
On February 15th, 2019, Adena Business Advisors, LLC, successfully completed the sale of substantially all of the assets of Looper Oil Company, Inc. to Great Lakes Petroleum.
Andrew R. Holtgrewe, CPA, CBI, was engaged as the exclusive sell-side advisor on the transaction and partnered with Nathan Hull, Managing Partner at Hull & Chandler, P.A., to close the transaction in just 14 days.
On March 28th, 2019, Adena Business Advisors successfully completed the sale of substantially all of the assets of C.R. Mullis Oil & Heating Co., Inc., to Great Lakes Petroleum.
Andrew R. Holtgrewe, CPA, CBI, was engaged as the exclusive sell-side advisor on the transaction and partnered with Nathan Hull, Managing Partner at Hull & Chandler, P.A., to close the transaction in just 14 days.
Established in 1947, Mullis Oil specializes in the delivery of gasoline, heating oil, and high/low sulfur diesel to commercial and residential customers throughout the Greater Charlotte area. A family-owned and operated business since it's inception, owner Don Mullis has run the business alongside his two sons Christopher and Cliff Mullis from the Company's office and bulk plant on Belmont Avenue (off of North Davidson in North Charlotte) for many years.
Headquartered just outside Cleveland, Ohio, Great Lakes Petroleum has established itself as a national leader in the fuel delivery and storage business over the Company’s 40+ year history. Under the leadership of Company President Anthony Arcoria and Regional Sales Manager Charlie Reibling, Great Lakes is looking to use the Mullis Oil acquisition as a springboard to continue its already expanding market leadership in the Charlotte market and throughout the Southeastern US.
Great Lakes Petroleum is located at 5001 Wilkinson Blvd, Charlotte, NC 28208.
Press Release: Sale of Looper Oil Co., Inc. to Great Lakes Petroleum
On February 15th, 2019, Adena Business Advisors, LLC, successfully completed the sale of substantially all of the assets of Looper Oil Company, Inc. to Great Lakes Petroleum.
Established in 1938, Looper Oil specialized in the delivery of gasoline, heating oil, and high/low sulfur diesel to commercial and residential customers throughout the Greater Charlotte area.
On February 15th, 2019, Adena Business Advisors, LLC, successfully completed the sale of substantially all of the assets of Looper Oil Company, Inc. to Great Lakes Petroleum.
Established in 1938, Looper Oil specialized in the delivery of gasoline, heating oil, and high/low sulfur diesel to commercial and residential customers throughout the Greater Charlotte area.
“We had entertained the idea of selling our business for about a year,” stated Gretchen Looper, co-owner of Looper Oil. “After three generations, it was very emotional to let go. We knew we were unable to handle this transactions ourselves. Our accountant recommended Andy Holtgrewe. We met with Andy and he quickly gained our trust. He provided us with a comprehensive evaluation very quickly at a very reasonable price. All necessary information and documentation was handled professionally and accurately. Everything was explained in terms we could understand. The fact that Andy is a CPA is a big plus, especially when considering tax consequences. We had multiple offers and closed the sale in 37 days! We cannot overstate how pleased we are!!!”
Headquartered just outside Cleveland, Ohio, Great Lakes Petroleum has established itself as a national leader in the fuel delivery and storage business over the Company’s 40+ year history. Under the leadership of Company President Anthony Arcoria and Regional Sales Manager Charlie Reibling, Great Lakes is looking to use the Looper Oil acquisition as a springboard to continue its already expanding market leadership in the Charlotte market and through the Southeastern US.