November 23, 2019 at 5:48 a.m.

Jay Petroleum marks 60 years

Business roundup
Jay Petroleum marks 60 years
Jay Petroleum marks 60 years

Jay Petroleum Inc. of Portland, is celebrating its 60th anniversary.

Now one of the leading convenience store operators in the Midwest, the parent company of Pak-A-Sak was founded in 1959 by the late James Peterson.

In the early 1950s, Jim Peterson was employed as a tank wagon delivery driver in east central Indiana for the Standard Oil Company.

As his business began to grow, he started to acquire retail service stations which he then leased to dealers to operate.

Jay Petroleum continued to expand from the 1960s through the 1980s and at one point owned a bulk lubricants company in Muncie and a wholesale auto parts business in Portland.

“During the late 1970s as the gasoline marketing landscape began to take on a new appearance with the emergence of the convenience store, Jim teamed up with two other individuals to form the Pak-A-Sak convenience store company,” the company said in a press release. “The business originally began with the acquisition of three locally owned ‘mom & pop’ grocery gas stations.”

In 1988, Peterson acquired sole ownership of Pak-A-Sak, and brought its operations under the umbrella of Jay Petroleum.

Upon his retirement in 2008, Jim sold the company to the employees through the creation of an ESOP (employee stock ownership plan).

“Through Jim Peterson’s generosity in allowing his employees to share in the ownership of the company, his legacy, and the family culture he fostered has been preserved,” Jay Petroleum president Ron Freeman said in a prepared statement.

Jay Petroleum today operates 34 convenience stores in east central Indiana and west central Ohio and operates 13 Subways, one Taco Bell and two Papa John’s Pizza within its stores.

It employs 450.



Planning

Plans are underway for the 2019 WinterFest sponsored by Jay County Chamber of Commerce.

This year’s Parade of Lights is set for 6:30 p.m. on Saturday, Dec. 7.

Anyone interested in participating in the parade should contact the chamber at (260) 726-4481 to sign up in advance.

Businesses, clubs, organizations and families are invited to participate.

All entries must be lit. Any candy being distributed must be handed to children rather than thrown.

Santa’s arrival in Portland is traditionally the final entry in the parade, so participants are asked not to include a live Santa as part of their parade entry.

Registration forms are available at the Community Resource Center, 118 S. Meridian St., Portland. Registration is required and the deadline to register is Nov. 25.



New director

Philip Hammond has been appointed to the board of directors of Ardagh Group, succeeding Wolfgang Baertz, who died in September.

Hammond will serve as a non-executive director and a member of the audit committee.

A member of Parliament in the United Kingdom from 1997 to 2019, Hammond most recently served as Chancellor of the Exchequer from 2016 to 2019.

He has also served as foreign secretary, defense secretary and transport secretary.

Ardagh Group is a global supplier of recyclable metal and glass packaging for the world's leading brands.

It operates glass container manufacturing plants in Dunkirk and Winchester.



Joins CrossRoads

Janet L. Powers has joined CrossRoads Financial Federal Credit Union as loan officer at the main office. A member of the Portland City Council, she has more than 20 years of banking experience.



In stores

Tyson Foods Inc., parent company of Tyson Mexican Original of Portland, has announced that its “Raised & Rooted” plant-based nuggets are now available in 7,000 stores in the U.S.

“Alternative protein projections remain strong, and we’re well-positioned to lead in this growing space,” chief executive Noel White said in a press release.
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