The Pantry Extends Citgo Agreement
SANFORD, N.C -- The Pantry Inc . has amended and extended its gasoline supply agreement with Citgo Petroleum Corp.
In 2003, the Sanford, N.C. based-company signed an agreement calling for Citgo to supply approximately half of its total gasoline volume for five years. That agreement included both Citgo branded gasoline and private-label gasoline, most of which is sold under The Pantry's own Kangaroo brand. Citgo currently supplies The Pantry with more than 1 billion gallons of gasoline annually. The amended agreement provides for growth through the potential addition of more stores, and extends the contract's term by two years, through 2010. The company operates 1,400 stores in 11 states.
"Our partnership with Citgo has worked out well for both parties, and we are very pleased to extend our contract on favorable terms," said Peter J. Sodini, president and CEO. "The amended agreement further bolsters our overall gasoline supply position, giving us greater flexibility and certainty of supply availability for the years ahead."
In 2003, the Sanford, N.C. based-company signed an agreement calling for Citgo to supply approximately half of its total gasoline volume for five years. That agreement included both Citgo branded gasoline and private-label gasoline, most of which is sold under The Pantry's own Kangaroo brand. Citgo currently supplies The Pantry with more than 1 billion gallons of gasoline annually. The amended agreement provides for growth through the potential addition of more stores, and extends the contract's term by two years, through 2010. The company operates 1,400 stores in 11 states.
"Our partnership with Citgo has worked out well for both parties, and we are very pleased to extend our contract on favorable terms," said Peter J. Sodini, president and CEO. "The amended agreement further bolsters our overall gasoline supply position, giving us greater flexibility and certainty of supply availability for the years ahead."