Excell Picks Up 40 Exxon Sites

Sale of real-estate interests will not affect customers; major continues retail divestment

Greg Lindenberg, Editor, CSP

MEMPHIS, Tenn. -- An Exxon Mobil Corp. spokesperson told CSP Daily News that the sale of 40 stations to Duluth, Ga.-based Excell Petroleum will be transparent to consumers. ExxonMobil reached an agreement with Excell to sell its real-estate interests at the 40 Exxon-branded retail sites located in the Memphis, Tenn., market, a Morgan Keegan/CSP Daily News Flash said yesterday following a report by The Commercial Appeal.

"We don't expect this change to impact customers, and they will continue to be able to purchase the same high-quality Exxon [image-nocss] products," Kristen A. Hellmer said.

"This transaction is consistent with our June 2008 announcement that we would be transitioning a majority of our remaining company-owned stations to the distributor model," she said.

(Click here for previous coverage.)

Hellmer added, "Currently, more than 80% of our Exxon and Mobil-branded stations in the U.S. are owned and/or supplied by independent branded distributors. ExxonMobil is committed to making this conversion as smooth as possible."

ExxonMobil, based in Irving, Texas, and Fairfax, Va., is a leading international energy company with exploration and production, refining and marketing and chemicals operations.