News Coverage C-Store Decisions – Thursday, January 18, 2007
BP Sells Off 41 Locations
CSD Staff
Stores being used to expand "am/pm" brand.
BP America Inc. is selling off 41 of its Pittsburg-area c-stores and stand-alone gas stations to franchise operators
or owner operators. The decision is part of a plan to expand the "am/pm" store franchise brand in the Eastern U.S.
"This is part of our overall growth strategy," Valerie Corr, a spokeswoman for BP in Chicago, told the Pittsburg (Pa)
Tribune-Review. "Essentially, by selling to franchisees, they can take the stations and grow."
Corr went on to say that this move isn’t an attempt by BP to pull out of the competitive Pittsburg area. By selling off
these units, BP will not only be securing revenue, but will also avoid the costs of upgrading stores and stations.
The stores will initially be bought under another brand. Then after the new ownership is finalized, the stores will be converted to the AMPM brand.
BP currently has 1,000 franchise-owned ampm stores on the West Coast. This move will give them an opportunity to expand across the country.
"Our goal is to build and recruit a franchise network East of Rockies that complements our already distinctive BP brand," said Ben Amante, BP's vice president of franchising.
NRC Realty Advisors LLC will be coordinating the sale.
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