Circle K Acquires ExxonMobil Stations in Arizona

 

Some 43 ExxonMobil On the Run gas stations in Arizona that closed last Friday quickly reopened as Circle K stores, according to azcentral.com.

 

Many of the stores were converted in as little as 24 hours, while others will take longer. Once reopened, all stores will carry Circle K branded fuel.

 

Canada-based Alimentation Couche-Tard, which owns Arizona Circle K stations, purchased the stations on Thursday, said Scott Stevenson, Circle K real estate and development director for the region.

 

Circle K now operates 521 Arizona stations, more than any other company, according to Department of Weights and Measures records.

 

Not only did Couche-Tard purchase the 43 stores owned and operated by ExxonMobil in Arizona, but it has also announced that it is acquiring 450 ExxonMobil franchise stores in 28 states.

 

The Canadian company owns 5,444 convenience stores across the U.S. and Canada.

 

ExxonMobil shedding its stations reflects a larger trend of oil companies focusing on their supply business rather than retail, Andrea Martincic, executive director of the Arizona Petroleum Marketers Association told azcentral.com.

 

“The way the market is now, I’m surprised we haven’t seen more consolidation,” she said.

 

 

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