San Antonio, Texas-based Valero Energy Corporation has signed a purchase agreement with Albertson’s LLC for 72 convenience stores and fueling kiosks in the Dallas-Fort Worth, Denver, Baton Rouge and Phoenix markets. Valero currently operates 950 company-owned retail sites in Texas, Arizona, Colorado and Louisiana. The company said the new stores will be reimaged with the Corner Store brand and will sell Valero-branded fuel.
“This transaction offers great synergies with our existing retail network and supply chain,” said Gary Arthur, Valero’s Retail Division President. “All of these sites are relatively new and offer strong potential for merchandise growth.”
The 72 sites are located next to Albertson’s grocery stores. The grocery stores will remain open but will be separate from the newly purchased Valero c-store and fueling operations. Albertson’s will continue to operate its remaining fuel centers in Florida.
Valero is the largest refiner in North America, where it owns and operates 17 refineries. It also has a large retail operation with approximately 5,800 retail and branded wholesale outlets in the U.S., Canada and the Caribbean operating under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon.
