Valero to Purchase 72 Albertson's Sites
SAN ANTONIO -- Valero signed an agreement yesterday to purchase 72 convenience stores and fueling kiosks from supermarket operator Albertson's LLC, which will expand Valero's company-owned retail presence in Texas, Colorado, Arizona and Louisiana, Valero stated.
"These are all relatively new sites in areas where Valero has operations. They fit in well with our core retail operations and expand in some markets where we have a presence," Valero spokesman Bill Day told CSNews Online. "We identified the potentials at each site to increase merchandise sales through proprietary brands."
Once the deal is completed, Valero will reimage the sites to the Corner Store brand, and the sites' unbranded fuel will convert to Valero-branded. Depending on location and marketplace, stores will see the addition of the company's proprietary offerings -- including the new Cibolo Mountain coffee and its Fresh Choices snacks, soft drinks, spring water, vitamin water, teas, fresh foods and pastries -- in an effort to maximize merchandise sales, Day added.
As reported in a CSNews Online newsflash yesterday, Valero currently operates approximately 950 company-owned Corner Store locations in the states included in this purchase. The newly acquired sites will also be company-owned and are concentrated in the Dallas/Ft. Worth, greater Denver, Baton Rouge/Lafayette and Phoenix markets, the company stated.
"[The Southwest] is where we are enhancing operations," Day told CSNews Online. "We are looking forward to expanding in this market, and we feel customers are already familiar with Valero and will be excited by the new stores."
Terms of the deal were not disclosed. The transaction is expected to close in August, and is subject to customary governmental approvals.
"These are all relatively new sites in areas where Valero has operations. They fit in well with our core retail operations and expand in some markets where we have a presence," Valero spokesman Bill Day told CSNews Online. "We identified the potentials at each site to increase merchandise sales through proprietary brands."
Once the deal is completed, Valero will reimage the sites to the Corner Store brand, and the sites' unbranded fuel will convert to Valero-branded. Depending on location and marketplace, stores will see the addition of the company's proprietary offerings -- including the new Cibolo Mountain coffee and its Fresh Choices snacks, soft drinks, spring water, vitamin water, teas, fresh foods and pastries -- in an effort to maximize merchandise sales, Day added.
As reported in a CSNews Online newsflash yesterday, Valero currently operates approximately 950 company-owned Corner Store locations in the states included in this purchase. The newly acquired sites will also be company-owned and are concentrated in the Dallas/Ft. Worth, greater Denver, Baton Rouge/Lafayette and Phoenix markets, the company stated.
"[The Southwest] is where we are enhancing operations," Day told CSNews Online. "We are looking forward to expanding in this market, and we feel customers are already familiar with Valero and will be excited by the new stores."
Terms of the deal were not disclosed. The transaction is expected to close in August, and is subject to customary governmental approvals.