Sinclair Oil Confirms C-store Sale
SALT LAKE CITY -- Sinclair Marketing Co. confirmed it will sell its chain of 90 company-owned retail service stations, mostly located in Nebraska, Minnesota, Utah, Colorado and Oklahoma.
In a statement, Sinclair Marketing said the company gradually reduced the number of company-owned retail convenience stores over the past decade, and the majority of the company's fuel sales were at the wholesale level to independent petroleum distributors and marketers. The action does not affect the 2,700 Sinclair-branded service stations that are owned by independent petroleum marketers, the company stated.
"This action will enable Sinclair to concentrate its downstream efforts on refining, distribution and wholesale marketing activities," the company said in a statement. CSNews Online was first to report yesterday that Sinclair would sell its convenience stores, and would keep the Sinclair brand at those locations.
The company expects to complete the sale by year-end.
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Sinclair Oil to Sell C-stores
In a statement, Sinclair Marketing said the company gradually reduced the number of company-owned retail convenience stores over the past decade, and the majority of the company's fuel sales were at the wholesale level to independent petroleum distributors and marketers. The action does not affect the 2,700 Sinclair-branded service stations that are owned by independent petroleum marketers, the company stated.
"This action will enable Sinclair to concentrate its downstream efforts on refining, distribution and wholesale marketing activities," the company said in a statement. CSNews Online was first to report yesterday that Sinclair would sell its convenience stores, and would keep the Sinclair brand at those locations.
The company expects to complete the sale by year-end.
Related News:
Sinclair Oil to Sell C-stores