BP to Sell Company-Owned and -Operated C-stores

Nov. 15, 2007 -- Sale to franchisees, dealers and distributors will include more than 700 stores during the next two years..

NAPERVILLE, Ill. -- BP's U.S. convenience retail unit will sell all of its company-owned and -operated convenience stores, mostly to franchisees, while some will also be sold to dealers and large distributors, the company reported.

"By tapping into the entrepreneurial experience and knowledge of local station owners, we will build a strong franchise network that will help us grow our business," Fiona MacLeod, president of BP U.S. convenience retail, said in a statement.

The sale of the more than 700 stores will be completed during the next two years, and will continue to market BP fuels in the eastern U.S., and ARCO fuels in the western U.S. The franchise agreements will be for 20 years and requires sites to be supplied with BP or ARCO branded fuels for the term of the contract, the company stated.

As announced last month, BP will transition to a single franchised brand -- ampm -- in the U.S.

"The ampm brand has a 30-year track record in the western U.S. and has seen very positive results East of the Rockies based on the value that franchisees bring to the business,? said MacLeod. ?The brand has a 94 percent brand awareness rating West of the Rockies, and a strong international presence in Japan, Brazil and Mexico. We are excited about growing the brand in the eastern U.S.?

BP will support franchisees with a field-based staff and a head office located in La Palma, Calif.

For more information on BP franchising, please visit www.bpampmfranchising.com.

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