Company News

Aloha Petroleum Closes Mahalo Purchase

Also offers Save-A-Dollar card promotion

HONOLULU -- Aloha Petroleum Ltd. has announced that its acquisition of 18 Mahalo gas stations has closed. The purchase, from Trustreet Properties Inc., was finalized on Sept. 27, 2005. The acquisition package includes purchase of half-interest in a fuel storage terminal, the other half of which was already owned by Aloha Petroleum.

Aloha Petroleum President Bob Maynard said most of the stations will take on the Aloha brand name, and all stations will receive a "thorough makeover" in appearance and functionality. Most of the convenience stores will take [image-nocss] Aloha's own Island Mini-Mart brand, with seven of them remaining under the 7-Eleven brand.

This acquisition is a big win for consumers, especially now with such volatility in pricing, Maynard said, noting that since Hawaii's gasoline-cap law took effect, Aloha has consistently priced its gasoline below the weekly retail average.

Aloha Petroleum has also just introduced a promotion for its consumer Save-A-Dollar card, which provides those who apply for the card with $30 worth of free gasoline. Aloha offers several Save-A-Dollar credit cards that provide consumers, businesses and nonprofits with discounts on paid purchases.

Maynard pointed out that Aloha has consistently maintained a pro-competitive pricing stance since its incorporation as a Hawaii company in 1977, and plans to continue that. Aloha has always been a highly efficient, pro-consumer force in Hawaii's petroleum industry, Maynard said. We will continue to provide much needed leadership in offering consumers greater value at the pump."

Aloha Petroleum's history in Hawaii dates back to the early 1900s. Today, Aloha operates nearly 80 fueling locations on Oahu and the Big Island of Hawaii. In addition to its retail fuel network, Aloha provides fuel and lubricants to hundreds of commercial and government customers. Its operations are supported by a large fleet of delivery vehicles and two fuel storage terminals in Campbell Industrial Park on Oahu and in Hilo on the Big Island. Aloha is also the exclusive distributor of CITGO lubricants in Hawaii.

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