Ricker's Oil Rebrands 17 Indianapolis Stores
INDIANAPOLIS -- Ricker Oil Co. will be rebranding 17 of its central Indiana ampm c-stores which it acquired from a division of BP in 2008. The stores will carry the Ricker's name by early next year, to match the remainder of its 50 Indiana stores, IBJ.com reported. The changes will start to take place in mid-January and should be completed by February.
"In a very competitive market, it’s better to have a cohesive brand," Jay Ricker, CEO of Ricker Oil told IBJ.com. He added that Ricker will spend at least $1 million across the 17 stores on new signage, a rebranding of fountain offerings and new point-of-sale terminals.
The 17 stores have carried the ampm name since Ricker purchased them in 2008. Ricker opened two previously shuttered BP station, after the deal closed, branding them as Ricker's. In October 2009 Ricker sued BP in U.S. District Court claiming that BP charged unjustified royalty fees while delivering no boost from its national advertising, proprietary computer system or bulk-purpose pricing, the Web site stated. Ricker dropped the suit in March of this year.
Both parties finally came to an agreement, after both determined that "we could grow our gasoline share quicker if we had our own brand," stated Ricker. However, BP will continue to supply petroleum to Ricker's.