The acquisition cost wasn't available from either company ordetailed in SEC filings. The heaviest concentrations of stationsare Dallas/Fort Worth, Denver, Baton Rouge, LA and Phoenix. "Thistransaction offers great synergies with our existing retail networkand supply chain," Gary Arthur, president of Valero's retaildivision, says in a press release.


A spokesman for the San Antonio-based Valero says "we alreadyhave about 950 company-owned stores in the Southwest and most arein the states where we're making the acquisition." The spokesmansays the Boise, ID-based Albertsons' stores will be company ownedlocations by Valero and not branded wholesale sites, which is afranchise-type agreement between Valero and a local group. Valerohas about 4,000 wholesale sites in its portfolio.


The spokesman tells that re-branding will beginimmediately after the deal closes and should be completed in amatter of months. Some stores could be re-branded practicallyovernight. "Most of the stores are in operation," the spokesmansays. "They're fairly new sites and are in good shape so they won'tneed a whole lot of renovation. Just new signage and reconfiguringof interiors to set up for the mix of products we sell."


The spokesman says the Albertsons offer was an opportunistic buyrather than a planned acquisition that had been in the pipeline along time. "This was a group of stores coming from one buyer andgoing to one seller," he says. "It made good sense for us."

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.