Thursday, February 7, 2008
BP to Sell 153 West Coast Sites as ampm Franchises with Arco GasolineNAPERVILLE, IL - March 3, 2008 - BP's U.S. Convenience Retail unit announced today that 146 retail sites are for sale throughout Columbus, Cleveland and Pittsburgh metropolitan areas. Of the 146 sites, 121 are available for franchise, 1 as a de-branded gasoline site, 24 as BP dealer sites (with fuel agreements only) and 12 with multiple offerings including commercial use. The franchise sites will be re-imaged or developed as ampm franchise stores with BP-branded gasoline.
The offering is part of a plan announced by BP in November 2007 to sell its company-owned and operated retail sites. BP is marketing these sites predominately as franchise operated sites, both dealer and jobber-owned. BP will also market some sites as dealer and jobber fuel only sites. This approach is in line with BP's strategic plans to expand and grow the ampm brand to reach more consumers with its products and services. BP is extremely pleased with the response so far to its site marketing efforts in direct supplied and jobber supplied franchise cities.
BP owns and operates about 700 company-owned and operated convenience stores, which will be sold over a two-year period.
"The ampm brand has a 30-year proven track record in some of the most competitive marketing areas in the U.S.," said Fiona MacLeod, president of BP U.S. Convenience Retail. Franchising under the ampm brand across the U.S. just makes sense."
Diversity and inclusion continues to be an important part of BP's franchising efforts. In 2006, BP began an initiative to recruit minority franchisees, and that work will continue. "As much as possible, we want ampm stores to be owned and operated by people who live in the communities we serve," said MacLeod.
BP has retained NRC Realty & Capital Advisors, LLC (NRC) to coordinate the sale of the 146 sites. NRC will accept offers submitted by May 28, 2008. Those interested in submitting offers to become prospective franchisees and BP dealers are required to attend a complimentary seminar in either Cleveland or Columbus, Ohio. Representatives from BP and NRC will host the seminar, which will provide essential information related to BP franchising and fuel supply and the NRC offering process. Reservations and a completed Franchise Application are required for attendance. Please contact NRC at 800.747.3342, ext. 805, for details and to register. The Franchise Application is available for download at www.nrc.com/bp.
BP markets more than 15 billion ga