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The Pantry Inks Deal with BP Products

SANFORD, N.C.-- The Pantry Inc., operator of 1,369 convenience stores in the southeastern United States, has negotiated an expansion and extension of its gasoline supply agreement with BP Products North America.

Approximately 70 of the 138 Golden Gallon convenience stores acquired by The Pantry last October will be included in the new agreement, and the company’s annual purchases of BP gasoline products are expected to increase by about 90 million gallons to more than 400 million gallons. Total gasoline purchases from BP are expected to exceed 2 billion gallons over the remaining term of the agreement, which has been extended through December 2009.

President and CEO Peter J. Sodini said, "After carefully reviewing our options with a number of potential suppliers, we are very pleased to announce this expansion of our partnership with BP. With about 70 Golden Gallon stores added to our original agreement, BP was able to offer us more attractive terms overall. We should also benefit from greater branding consistency across our store base as well as preferred access to the BP supply channel for a five-year period."
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