The new owner is a Canadian company behind the Circle K convenience store chain.
The purchase price has not been disclosed.
Holland Oil began with the first service station Chuck Holland opened in 1954.
The company now has 54 gas-station-and-convenience-store locations throughout the region.
In recent years, the business has been headed by Holland's daughter, Lisa Holland Toth.
Her husband, who's a senior vice president, says the family is very sad to be selling but didn't think the reins could be passed to a third generation.
The buyer hasn't said whether the Holland stores will be converted to Circle K's.
The Associated Press