Victory Petroleum Expands in ExxonMobil Deal

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Victory Petroleum Expands in ExxonMobil Deal

By Melissa Kress, Convenience Store News - 12/09/2010

MIAMI – Locally headquartered Victory Petroleum is poised to grow with the acquisition of 41 ExxonMobil locations. The company anticipates the deal will close in early 2011, Ibis Rebull, financial comptroller for Victory Petroleum, told CSNews Online. The acquisition price for the sites across Miami-Dade County was not disclosed.

It is too early in the deal for Victory Petroleum to detail long-term plans for the locations, but "going forward, it will be business as usual," Rebull explained. She added that all the convenience stores/gas stations will retain the Mobil brand.

"This is an opportunity for growth and the Mobil brand is a very sophisticated brand," Rebull told CSNews Online. "The stores are immaculate and this is a great opportunity." And while Rebull did not say if Victory Petroleum has any other acquisition deals in the works, she did say the company is "always looking for new opportunities to grow."

Victory Petroleum was formed in 1995, and its president, Carlos Fontecilla, has been in the business since 1989. Currently, Victory Petroleum supplies to 75 stations in the South Florida market. Of those stations, the company owns the real estate of a little more than half, Rebull explained.

This is the second ExxonMobil deal in Florida to make headlines this week. As reported by CSNews Online yesterday, 7-Eleven Inc. has reached an agreement with ExxonMobil to acquire 183 stores in Orlando, Southwest Florida, Palm Beach and Broward County. That deal is also expected to close in early 2011.