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North Carolina Has its First Captive Owned by a Public Company

Cary, N.C.-based The Pantry, Inc., has formed Cellarium Insurance Company, Inc., a pure captive insurance company.

By Steven A. Meyerowitz, Esq., Director, FC&S Legal | Updated on March 28, 2014

The Pantry, Inc., based in Cary, North Carolina, has formed Cellarium Insurance Company, Inc., a pure captive insurance company licensed by the North Carolina Department of Insurance.

This is the first captive insurer to become licensed in North Carolina in 2014 and the first in North Carolina to be owned by a publicly-traded corporation. As of March 13, 2014, The Pantry – one of the nation’s largest convenience store chains – operated 1,537 convenience stores in 13 states, including under its primary operating banner, Kangaroo Express.

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