Alimentation Couche-Tard Inc. has signed an agreement through one of its subsidiaries to acquire 16 fuel terminals in Phoenix from BP West Coast Products LLC.
“The Phoenix Terminal is an excellent asset with outstanding employees who manage a very high quality operation. Strategically, this acquisition will add efficiencies in our fuel supply chain servicing our retail network in the Greater Maricopa County Area (in) Arizona,” said Geoffrey Haxel, vice president of operations for the Arizona Division.
The transaction is anticipated to close in the first quarter of 2010 and is subject to standard regulatory approvals and closing conditions. According to a confidentiality agreement between the parties the purchase price cannot be disclosed at this time. Internal available cash dollars will pay for the transaction.
The acquisition includes 16 above-ground storage tanks with a storage capacity of 220,000 barrels and which is permitted for 44,000 barrels per day and has access to petroleum products from West Texas/Gulf Coast as well as from the West Coast.