Scottsdale-based Florida Oil Holdings LLC bought 24 BP locations in Florida’s Lake, Orange and Osceola counties between March 8-11 for $33.5 million, marking its entry into the Central Florida market, the Orlando Business Journal reported.
The stations were purchased in separate transactions under different business entity names. In acquiring the stores, the firm signed a 20-year franchising agreement with BP Products North America Inc., Mark Murgash, who manages fuel distribution, real estate and construction for Florida Oil Holdings told the Orlando Business Journal. The purchase includes all the BP stations in Central Florida with ampm c-stores,
The company retained all employees at the stations and plans to grow the ampm brand in the Orlando market, Murgash noted. “We still need to get our feet under us [with the new acquisitions], but we’re always looking for opportunities,” Murgash told the Orlando Business Journal.
The sale is part of BP’s previously announced plan to sell all retail sites to local wholesale distributors or franchisees, according to BP spokesman Dean Scott.
Florida Oil Holdings is a sister company to Arizona Oil Holdings LLC and Georgia Oil Holdings LLC, both of which also own and operate fuel station/convenience stores in Arizona and Georgia.