Valero to Acquire 72 Retail Sites from Albertsons

Valero to Acquire 72 Retail Sites from Albertsons
May 07, 2008

San Antonio-based Valero Energy Corp. announced that it has signed an agreement to purchase 72 convenience stores and fueling kiosks from Albertsons LLC. Once completed, the transaction will expand Valero's company-owned retail presence in Texas, Colorado, Arizona and Louisiana, where Valero already operates approximately 950 company-owned Corner Store locations. Terms of the deal were not disclosed, and the transaction is expected to close in August 2008, subject to customary governmental approvals, after which the newly purchased sites will be re-imaged to the Corner Store brand and will sell Valero-branded fuel. The greatest concentration of the newly acquired sites is in the Dallas-Fort Worth, Denver, Baton Rouge/Lafayette and Phoenix markets. "This transaction offers great synergies with our existing retail network and supply chain," said Gary Arthur, president of Valero's retail division. "All of these sites are relatively new and offer strong potential for merchandise growth."

June 01, 2007 - Source:

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