The owner of Continental Refinery has purchased the now-vacant former First and Farmers National Bank building on the south side of Fountain Square and plans to consolidate as many as 11 of his far-flung businesses at the downtown Somerset location.
Demetrios Haseotes said headquarters for his businesses will operate under an umbrella corporation called Hemisphere Limited LLC. “A sign will be put up soon,” Haseotes said. He expects Hemisphere Limited to be operational by the first week in February.
“I’ve been managing businesses in New York and other places from here but now since I live here (that is the reason for the move),” he said. Haseotes, owner and past director of the Cumberland Group of Companies, which include Framingham, Mass.-based Cumberland Farms and Gulf Oil LP, formed Somerset-based Continental Refining Company (CRC) in December 2011 and purchased financially troubled Somerset Refinery. He also owns the Circle K convenience store on U.S. 27.