United Pacific Acquires 39 C-stores in California
LONG BEACH, Calif. — United Pacific is growing its portfolio in California.
The Long Beach-based company is acquiring 39 convenience store and gas station sites from Ventura-based Macland Investments. The properties are mostly in Los Angeles County, according to the Los Angeles Business Journal.
Of the 39 stations involved in the transaction, 32 are in Los Angeles County. The remaining seven are in Orange, Santa Barbara and Ventura counties. The deal also includes seven car washes and five quick-service restaurants.
The companies did not disclose financial terms of the deal.
Formerly United Oil Co., United Pacific was known for decades as a small, Gardena, Calif.-based chain with a few dozen gas stations that featured funky designs. The company changed in 2015 after an acquisition tripled its gas station count.
Renamed United Pacific, the company today is the largest independent gas station and convenience store chain in the western United States, operating stations under the 76, Conoco and Shell banners, as well as its own United Oil brand.
Once the deal closes, United Pacific's network will include 365 company-operated stores and 55 fee-operated locations, according the news outlet.
United Pacific will retain most of Macland's employees.
"The addition of Macland's stores to the United Pacific retail network significantly strengthens our company," Joe Juliano, United Pacific CEO, said in a statement. "We are excited about bringing such a high-quality convenience store portfolio and talented and loyal group of employees into the United Pacific family. The addition of the Macland stores also expands our retail presence in Southern California, which remains a core growth area for United Pacific."
Macland Investments is an investment company with diversified gas station, convenience store, car wash holdings and real estate investments. According to the report, it operates gas stations throughout Southern California under the Chevron, 76 and Shell brands.