Valero Acquires Albertson’s Gas Stations in Southwest
- May 06, 2008
Taking advantage of the availability of a collection of convenience stores and fueling kiosks in an already familiar market, Valero has acquired 72 Albertson’s sites for an undisclosed amount. Upon completion of the deal, Valero’s company-owned retail presence will grow in Texas, Colorado, Arizona and Louisiana. Currently, Valero operates around 950 company-owned Corner Store locations. The transaction should close in August, at which time the newly purchased sites will be changed to the Corner Store brand selling Valero-branded fuel. “These stores we’re acquiring are in areas where we already have a retail presence,” a Valero spokesperson told CPN today. “This allows us to add to the company owned retail locations without having to build new supply chains or add substantially to our infrastructure or overhead.” Additionally, the spokesperson said, customers in these areas are already familiar with the Valero brand because of existing stores. Valero Energy Corp. is a Fortune 500 company with approximately 21,000 employees and 2007 revenues of more than $95 billion. The company owns and operates 17 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.1 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation’s largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon.