Irving Oil, a Canadian gasoline, oil, and natural gas producing and exporting company, announced that the company's owner, the Arthur Irving Family Trust, had bought out Jack Irving's family and assumed full ownership of the company. Financial terms were not disclosed. “Today is an important day for the future of our company,” said Arthur Irving, chairman of Irving Oil. “Irving Oil was started in 1924 by my father, K.C. Irving, and has grown to be a market leader. We are very proud of our company and the people who work with us. We are all looking forward to working together for the continued success of our business.”