LOS ANGELES — The convenience store and gas station landscape in Southern California is undergoing a transition thanks to United Oil's portfolio acquisition from Pacific Convenience & Fuels (PC&F).
The deal, which recently closed, comprises 251 c-stores and gas stations that operate under the My Goods Market and Circle K brands, and primarily offer 76- and Conoco-branded motor fuels. The properties are located in California, Nevada, Oregon, Washington and Colorado.
With the completion of the deal, United Oil will now be known as United Pacific. Its network includes 319 company-operated stores and 60 fee-operated and leased locations. The majority of PC&F's employees will become employees of United, and United Pacific will now have more than 2,500 employees.
"The combination of the two chains will provide for strong synergies and leverage the strengths of each organization. This acquisition significantly expands our retail presence in the Western [United States] and strategically positions our company for future growth," said Joe Juliano, president and CEO of United Pacific.
Sidley Austin LLP acted as legal counsel to United Pacific, and Baker Botts acted as legal counsel to PC&F.
Los Angeles-based United Pacific offers motor fuels products under the 76, Conoco, Shell and United Oil flags and convenience items through the We Got It! Food Mart, My Goods Market and Circle K brands. United Pacific operates its retail and wholesale businesses in California, Nevada, Oregon, Washington and Colorado.
The company is a portfolio business of Fortress Investment Group LLC, a highly diversified global investment management firm.