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Florida Oil Holdings Buys 24 BP Sites

ORLANDO, Fla. -- Scottsdale, Ariz.-based Florida Oil Holdings LLC purchased 24 ampm convenience stores in Lake, Orange and Osceola counties last month for $33.5 million, marking its entry into the Central Florida market, the Orlando Business Journal reported.

The purchase represents all the BP stations with ampm convenience stores in central Florida, Mark Murgash, who manages fuel distribution, real estate and construction for Florida Oil Holdings, told the paper.

The purchase -- which was conducted as separate transactions by different business entity names in early March -- was part of a 20-year franchising agreement with BP Products North America Inc., the report stated. Florida Oil Holdings is a sister company to Arizona Oil Holdings LLC and Georgia Oil Holdings LLC, which also own and operate convenience stores in Arizona and Georgia, respectively.

The company retained all store-level employees and plans to grow the ampm brand in the Orlando market, Murgash told the newspaper. "We still need to get our feet under us [with the new acquisitions], but we're always looking for opportunities," he said.

The sale is part of BP's previously announced plan to sell its retail fuel and convenience store sites to local wholesale distributors or franchisees, BP spokesman Scott Dean said in the report.

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