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Valero Energy Corp. has signed an agreement to purchase 72 convenience stores and fueling kiosks from Boise, Idaho-based supermarket operator Albertson's, LLC, which will expand Valero's company-owned retail presence in Texas, Colorado, Arizona, and Louisiana, Valero said.
"These are all relatively new sites in areas where Valero has operations. They fit in well with our core retail operations and expands in some markets where we have a presence," Valero spokesman Bill Day told sister publication CSNews Online. "We identified the potentials at each site to increase merchandise sales through proprietary brands and things like that."
Once the deal is completed, Valero will convert the sites to the Corner Store brand, and the sites' unbranded fuel will convert to Valero-branded fuel. 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 -- to maximize merchandise sales, Day said.
Valero currently operates about 950 company-owned Corner Store locations in 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 said.
"[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 weren't disclosed. The transaction is expected to close in August, and is subject to customary governmental approvals.
Albertson's, LLC employs over 47,000 associates and operates under the Albertsons banner in Arizona, Arkansas, Colorado, Florida, Louisiana, Nebraska, New Mexico, Oklahoma, South Dakota, Texas, and Wyoming.
San Antonio-based Valero owns and operates 17 refineries in the United States, Canada, and the Caribbean, with a combined throughput capacity of about 3.1 million barrels per day, making it the largest refiner in North America. The company is also one of the nation's largest retail operators, with about 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under such banners as Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon.