bp to expand presence in America
bp announced an agreement to grow its presence in the US fuels and convenience retail business by taking full ownership of its Thorntons joint venture. bp has agreed to acquire the majority share it does not already own in the business from ArcLight Capital Partners, LLC.
Once the transaction is complete, bp will become a leading convenience operator in the Midwest, with 208 owned and operated locations across six states, including Kentucky, Illinois, Indiana, Ohio, Tennessee and Florida. bp plans to retain and build on the Thorntons brand.
David Lawler, chairman and president, bp America: “We have a proud history of high-quality retail brands across the country. Incorporating Thorntons into our business combines their customer-first culture with our existing US retail network and will help us deliver our convenience strategy of offering customers what they want, where and when they want it.”
Headquartered in Louisville, KY, Thorntons provides a competitive consumer offer and strong business operations. bp intends to build on, and further enhance, this long tradition of providing a distinctive customer experience while creating integrated value across bp’s mobility and convenience and fuels supply businesses.
Information Source: Read Full Release ..–>
