Holly Pond-based Jet Pep selling assets - WBRC FOX6 News - Birmingham, AL

Holly Pond-based Jet Pep selling assets

Source: WBRC Source: WBRC
CULLMAN COUNTY, AL (WBRC) -

You see the stores across Alabama.

You may have even filled up at one getting ready for the weekend.

We're talking about Jet Pep. The company is one of the state's largest fuel operators. But now there's some uncertainty about its future. The company now in talks of selling its assets to two companies

"More questions than answers,” Mayor Bill Oliver of Holly Pond said.

That's the overall feeling in the small town of Holly Pond where Jet Pep means big business.  The company was founded in this town of 800 in the 70s but now is in the process of potentially having new ownership. CrossAmerica Partners and Circle K stores have entered into an agreement to buy Jet Pep assets across the state which includes the company's headquarters in Holly Pond where nearly 80 people are employed.

"We were kind of taken by surprise here as much as anybody else was. You kind of anticipate things but you really don't know they're coming until they hit you,” Oliver said.

And this hit could potentially have a big economic impact on the town. Mayor Oliver doesn't know if the new companies plan to keep employees and their resources in Holly Pond. WBRC did obtain this letter from Jet Pep's president telling employees that the favorable business environment has made it right for them to take this next step to possibly sell. The letter goes on to say the companies have expressed a desire to interview employees for potential jobs.

"We depend on that employment. We depend on the taxes. We depend on them spending money here within our community so to lose that number of people. Yeah its going to be a tax loss. Its going to be an economic loss not just to us but to our county. We're hoping that doesn't happen. We're hoping we're able to revive it,” Oliver said.

Oliver says Jet Pep has been a vital part of the community for years especially helping schools.

"Losing Jet Pep it would be like losing family to this community,” Oliver added.

We’re waiting to hear back from Jet Pep representatives. Holly Pond's mayor also waiting to hear from Jet Pep.

The only thing the CrossAmerica is saying is that the deal expands its presence in the south. We're told the deal could be finalized sometime later this year.

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