ExxonMobil Completes Tri-State Sale

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ExxonMobil Completes Tri-State Sale

03/18/2002
FAIRFAX, Va. -- Exxon Mobil Corp., operator of more than 4,100 convenience stores in the United States, completed the sale of 27 convenience stores to Wheeling, W.Va.-based Tri-State Petroleum Corp. Terms of the deal were not disclosed.

As part of the deal, all of the units will remain Exxon-branded and Tri-State has assumed the responsibility for supplying Exxon fuel to the locations.

Of the 27 stores 26 are located in the Pittsburgh area. The remaining unit is in Wheeling, W.Va. ExxonMobil has 27 retail stores in the market, of which 18 are independent dealer locations. Five are operated by ExxonMobil and four are dealer owned stores supplied under contract.

With the deal Tri-State Petroleum, a privately petroleum marketer in Ohio, West Virginia and Pennsylvania, operates 87 convenience stores.