Monday, December 8, 2014
Empire Petroleum Takes More in Texas
Acquires 17 additional Corner Stores from CST Brands
Source: CSP Daily News
DALLAS --Empire Petroleum Partners LLC has announced that it has acquired 17 former Corner Store locations in Texas from CST Brands Inc. This purchase is in addition to the 11 former CST Brands convenience stores that Empire Petroleum acquired in Lubbock, Texas, in November 2014.
The acquisition of these 28 sites solidifies Empire Petroleum’s already significant operations in the Lone Star State and augments its “strong and continuing” business partnership with Valero, the company said.
“The addition of these locations increases Empire’s market presence in the Dallas market, which is where the company headquarters are located,” said David Rabe, Empire Petroleum’s vice president of marketing. “Moreover, the recent CST acquisition further bolsters our Valero relationship.”
As in Lubbock, Empire Petroleum intends to hire as many of the former CST Brands employees as possible to remain at the stores.
As reported in a 21st Century Smoke/ CSP Daily News Flash, the 28 locations that Empire Petroleum has acquired are part of a larger sale conducted by NRC Realty & Capital Advisors LLC, Chicago, that consisted of former CST convenience stores with gasoline located throughout Arkansas, Arizona, California, Colorado, Louisiana, New Mexico, Texas, Utah and Wyoming.
CST Brands is one of the largest independent retailers of motor fuels and convenience store merchandise in North America. Based in San Antonio, it has approximately 1,900 locations throughout the southwestern United States, New York and eastern Canada offering a broad array of c-store merchandise, beverages, snacks and fresh food. In the United States, CST Corner Stores sell fuel and signature products such as Fresh Choices baked and packaged goods, U Force energy and sport drinks, Cibolo Mountain coffee, FC Soda and Flavors2Go fountain drinks. In Canada, CST is the exclusive provider of Ultramar fuel and its Dépanneur du Coin and Corner Stores sell signature Transit Café coffee and pastries. CST also owns the general partner of CrossAmerica Partners LP, a master limited partnership (MLP) and wholesale distributor of fuels, based in Allentown, Pa.
Based in Dallas, Empire Petroleum is a leading motor fuels distributor of brands including Shell, Chevron, Valero, Sunoco, BP, Exxon, CITGO, Mobil, Marathon, Texaco, Gulf and ConocoPhillips. Empire currently distributes more than 600 million gallons of motor fuel products to more than 1,200 customers in 29 states.