Friday, December 19, 2014
Empire Snaps Up Colorado Stores From CST
Source: Oil Express NewsBy Donna Harris
Empire Petroleum Partners LLC, a Dallas-based wholesale distributor of more than 600 million gallons of motor fuel a year, said it has acquired 13 former Corner Store locations in Colorado from CST Brands Inc., of San Antonio, Texas, for an undisclosed price.
The purchase of these 13 sites is in addition to the 28 other CST locations Empire purchased in Texas in the fourth quarter of this year. The acquisition expands Empire’s growing footprint in Colorado, the company said.
“Colorado represents an opportunity for Empire to expand its footprint further into the Western United States,” said Michael O’Brien, Empire’s vice president of mergers and acquisitions. “The acquisition further solidifies our relationship with Valero, a relationship we hope to continue to build in the Rocky Mountain region and elsewhere.”As it has with the other CST Texas locations, Empire said it intends to hire as many of the CST employees as possible.
The 41 locations Empire just acquired are part of a larger sale conducted by NRC Realty & Capital Advisors LLC, consisting of operating and former CST convenience stores with gasoline located throughout Arkansas, Arizona, California, Colorado, Louisiana, New Mexico, Texas, Utah and Wyoming.
Empire is a branded distributor for Shell, Chevron, Valero, Sunoco, BP, Exxon, CITGO, Mobil, Marathon, Texaco, Gulf and ConocoPhillips, wholesaling motor fuel to more than 1,200 customers in 29 states.The company also recently acquired the retail dealer business of Mansfield Oil Co.