BP Sell-Off Continues

As part of its transition to a franchise-based business, BP said it has put up for sale 78 stores in the Chicago market. The British oil company now has hundreds of stores available through sealed-bid auctions managed by NRC Realty Advisors LLC across the country.

Of the 78 Chicago sites, 65 are available for franchise, 3 are available as de-branded gasoline sites, 10 are available as BP dealer sites (with fuel agreements only) and 4 with multiple offerings including commercial use. The franchise sites will be re-imaged or developed as ampm franchise stores with BP-branded gasoline.

The offering is part of a plan announced by BP in November 2007 to sell its company-owned and operated retail sites to franchisees, dealers and jobbers and is in line with BP’s strategic plans to expand and grow the ampm brand to reach more consumers with its products and services. BP owns and operates about 700 company-owned and operated convenience stores, which will be sold over a two-year period in Arizona, California, Georgia, Illinois, Indiana, Ohio, Oregon, Pennsylvania, Washington and Wisconsin.

"The ampm brand has a 30-year proven track record in some of the most competitive marketing areas in the U.S.," said Fiona MacLeod, president of BP U.S. Convenience Retail. "Franchising under the ampm brand across the U.S. just makes sense."

Diversity and inclusion continues to be an important part of BP’s franchising efforts. In 2006, BP began an initiative to recruit minority franchisees, and that work will continue. "As much as possible, we want ampm stores to be owned and operated by people who live in the communities we serve," said MacLeod.

NRC will accept offers submitted by April 8. Those interested in submitting offers to become prospective franchisees and BP dealers are required to attend a complimentary seminar in Chicago. Representatives from BP and NRC will host the seminar, which will provide essential information related to BP franchising and fuel supply and the NRC offering process. Reservations and a completed Franchise Application are required for attendance. Contact NRC at (800) 747-3342 for details and to register. The franchise application is available for download at www.nrc.com/bp.

BP markets more than 15 billion gallons of gasoline every year to U.S. consumers through 13,000 retail outlets. All Amoco fuels are backed by a written guarantee. BP is the single, global brand formed by the combination of the former British Petroleum, Amoco Corporation, Atlantic Richfield (ARCO) and Burmah Castrol. The ampm brand was founded in 1978 in Southern California by ARCO. The brand became part of BP when it acquired ARCO in 2000. Additional information on BP’s franchising opportunities is available at www.bpampmfranchising.com.

Key Dates for BP Properties

Commercial Sites (Sale 801)
Offer due date: March 6, 2008

Atlanta Area Properties (Sale 802)
BP Franchise and How-To-Bid Seminar: February 14 & 15, 2008
Offer due date: March 11, 2008

Chicago Area Properties (Sale 803)
BP Franchise and How-To-Bid Seminar: March 4 & 5, 2008
Offer due date April 8, 2008

West Coast Properties (Sale 804)
BP Franchise and How-To-Bid Seminar: Weeks of March 10 & 17, 2008
Offer due date: April 17, 2008

Ohio Properties (Sale 805)
BP Franchise and How-To-Bid Seminar: Week of April 28, 2008
Offer due date: May 28, 2008

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