who owns par market

who owns par market插图

Bill Hollister
In January of 1988Bill Hollisterpurchased the ownership interest of James L.,his father and James A.,his brother. Subsequent to the purchase,Bill wanted to concentrate on the convenience store division and sold all other operating entities of Par Mar with the exception of the convenience stores and the independent dealers.

Why invest in Par Pacific?

Par Pacific is a growth-oriented company that owns and operates market-leading energy and infrastructure businesses in logistically-complex markets. Par Pacific combines experience in the oil and gas industry with corporate financing know-how. We bring this unique strength to complex markets where we seek out diamonds in the rough.

Who is par Hawaii refining?

Our refineries operate as Par Hawaii Refining, U.S. Oil and Wyoming Refining Company. Our unique logistics assets give us a competitive edge in our local markets. Marine terminals in Hawaii and Tacoma provide blue water access to waterborne crude markets.

How do I become a supplier to Par Pharmaceutical?

If you are interested in being considered for future business with Par Pharmaceutical, please complete the online supplier registration profile which can be found on Endo’s corporate website.

Partner with Us

With more than 40 years of experience in the US generic pharmaceutical market, we provide unparalleled experience to our partners. Our partners benefit from our well-established reputation for quality, compliance and customer service.

Our Approach

Strategic partnerships are an integral component of the company’s growth strategy. We are focused on developing products with significant barriers to entry and longer life cycles.

Relationships

For specialty generic pharmaceutical product development companies, we use a variety of deal structures, ranging from fee-for-service to profit-sharing collaborations. Our portfolio and new-product partnering strategy is focused on first-to-file opportunities as well as challenging products with unusual barriers to entry.

What is Par Mar Oil Company?

At the onset Par Mar Oil Company began business with 3 full time employees serving commercial, industrial and consumer accounts with oils, greases, gasoline, diesel fuels, heating oils, and various other petroleum products. Par Mar’s initial petroleum affiliation was Amoco Oil Co. which led to the dealer sector of the business. This division grew to service 55 independent dealers with the Amoco Brand.

Where is Par Mar Oil Company located?

Par Mar Oil Company grew into a multi state petroleum distributor with distribution centers in Marietta and Gallipolis, OH and Charleston, WV with numerous national brands of lubricants, gasolines, and fuels.

When did Par Mar open?

In 1979, Par Mar opened its first convenience store on Ohio State Rt. 7 South, now Par Mar #7. Mr. James L. Hollister (J.L.) then the president of Par Mar had left town for a few days on a business trip. His oldest son, William C. (Bill) had long tried to convince his father to enter the convenience store/gasoline business.

When did Par Mar change its name?

The name change to Par Mar Stores occurred in approximately 1987 as it was determined#N#beneficial to make the name Par Mar more predominate. Quality people and quality service had#N#become synonymous with Par Mar, and that trend continues today with the convenience stores and Quick Serve Restaurants.

Who owns Par Mar?

In January of 1988 Bill Hollister purchased the ownership interest of James L. , his father and James A., his brother. Subsequent to the purchase, Bill wanted to concentrate on the convenience store division and sold all other operating entities of Par Mar with the exception of the convenience stores and the independent dealers.

Who was Bill’s oldest son?

His oldest son, William C. (Bill) had long tried to convince his father to enter the convenience store/gasoline business. J.L. wanted no part of it and steadfastly refused each and every attempt by Bill to proceed. Bill felt with J.L. out of town the opportunity and timing was right.

Overview

Par Pacific is a growth-oriented company that owns and operates market-leading energy and infrastructure businesses in logistically-complex markets. Par Pacific combines experience in the oil and gas industry with corporate financing know-how. We bring this unique strength to complex markets where we seek out diamonds in the rough.

Refining

Our three refineries operate in logistically-complex markets, processing crude oil into refined products to serve our local communities. We have an operating refining capacity of 154,000 barrels per day with a distillate orientation across our locations.

Logistics

Our unique logistics assets give us a competitive edge in our local markets. Marine terminals in Hawaii and Tacoma provide blue water access to waterborne crude markets. Barges in both locations allow refined product and crude movements between our facilities.

Retail

Our retail locations serve the needs of our local communities. We maintain a leading retail position in Hawaii and the Pacific Northwest. We own and operate 90 retail locations in Hawaii under the Hele, nomnom, and 76 brands.

Why is Par Mar relying on social media?

Increasingly, Par Mar Stores is relying on social media to connect more with its customer base, as well as gaining additional insights on consumer preferences.

How many stores does Par Mar have?

The deal brings Par Mar’s store count to 137 units in four states — West Virginia, Ohio, Kentucky and Pennsylvania — and 81 total in West Virginia.

When was Par Mar Oil Co. founded?

Par Mar Oil Co. was established in 1967 as a full-line petroleum jobber by Joseph Grow of Parkersburg, W.Va. and James Hollister of Marietta, Ohio. In search of a name, Grow and Hollister decided on Par Mar — Par, an abbreviation connecting to the city of Parkersburg and Mar—for Marietta.

Does Par Mar have a loyalty card?

Not only is Par Mar Stores growing its operational footprint, the chain is intent in growing its connection to customers. One way has been through its Par Mar Rewards Card. The c-store uses the loyalty program to encourage its customers to buy items that they are loyal to throughout the calendar year.

Summary

Par Pacific was initially intriguing as a niche oil refiner with unheralded positions in Hawaii and Wyoming (and now Washington).

Supreme Court Decision

The question before the court in HollyFrontier Cheyenne Refining v. Renewable Fuels Association was whether small oil refineries could use a compliance exemption in the Renewable Fuel Standard program if they had not received that exemption every year since 2011. The Supreme Court majority ruled in favor of refiners.

First Quarter 2021 Results

For the first quarter of 2021, Par Pacific lost -$62.2 million or -$1.15/share. This included $47 million of RINs mark-to-market expense related to the 2019 and 2020 compliance years, (which now could potentially be reversed due to the Supreme Court decision).

Competitors and Laramie Energy Investment

Headquartered in Houston, Texas Par Pacific, Inc.

Governance

At July 1, 2021 Institutional Shareholder Services ranks Par Pacific’s overall governance as a 1, with sub-scores of audit (1), board (1), shareholder rights (7), and compensation (2). On the ISS scale, a score of 1 represents lower governance risk and a score of 10 represents higher governance risk.

Financial and Stock Highlights

Par Pacific will announce second quarter 2021 earnings after the close of business Wednesday, August 4, 2021 and will host an earnings conference call the following day.

A Note on Valuation

The company’s book value per share of $4.59 represents a significant write-down from a year ago. It is thus about 30% of current market share price, meaning the market value of the company’s assets is much more than its accounting base, a signal of positive investor sentiment.

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