Baltus Oil Company's Bread and Butter Shops Sold to Riiser Fuel Holdings
Friday, November 15th, 2019 -- 7:40 AM
(WDLB) -John Baltus is announcing the sale of the Baltus Oil Company’s eight Bread & Butter Shops in Marshfield, Stratford, Wisconsin Rapids, and Nekoosa to Riiser Fuel Holdings of Wausau.Baltus says he will maintain his wholesale fuel distribution service. Baltus says he’s not sure what name you might end up seeing on those Bread & Butter Shops, because of the recent acquisition of Riiser by GPM Investments based in Virginia. Meanwhile, Baltus says Riiser has hired almost all of the current Baltus employees. Baltus says he’s pleased with what his family was able to accomplish in Marshfield. The Baltus Oil Company can be traced back to 1927, when it began as a single gas station. Over the years the company transformed itself into a company with eight convenience stores and a wholesale fuel distribution business and heating oil.
John and his brothers became third generation marketers when they joined their father Vern in the business in the 1980’s. John became President of Baltus Oil in 1993. He is the past chairman of the Wisconsin Petroleum Marketers & Convenience Store Association and presently serves as the Wisconsin Director of The Petroleum Marketers Association of America Board of Directors. Wausau-based Riiser Fuels has grown to a total of 67 stores in Wisconsin while continuing to grow. Baltus says Riiser had approached him about a possible acquisition several times in recent years.
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