Par Pacific Holdings in 2026 expects to spend about $10 million on new-to-industry stores and targeted remodels, the company said in its 2025 annual report.
Retail continues to be a high-return, capital-efficient component of Par Pacific’s portfolio, according to the report, which was released March 20.
In 2025, Par Pacific completed one remodel in the Pacific Northwest, “focused on optimizing a high-return location with strong demographic fundamentals,” the company said.
This investment “is generating compelling cash-on-cash returns through improved merchandising, expanded food and beverage offerings and enhanced site presentation,” the company said, adding that fuel sales are expanding despite completing only in-store improvements.
- Par Pacific Holdings Inc. is No. 103 on CSP’s 2025 Top 202 ranking of U.S. c-store chains by store count.
Par Pacific operates convenience stores in the Pacific Northwest and the Hawaiian Islands. In Hawaii, its retail brand Hele provides fuel, food and other convenience goods. In the Pacific Northwest, its Nomnom brand offers fuel, convenience items and local foodservice favorites.
After finishing the inside remodel, the Pacific Northwest location had a 7% increase in fuel sales, a 14% increase in merchandise sales and a 54% increase in foodservice sales compared with prior periods, according to the report.
“By concentrating capital on proven sites, we continue to unlock incremental value without materially increasing operating complexity,” the company said.
Par Pacific said it plans “to pursue remodel opportunities across a handful of sites in Hawaii over the coming years. These projects will follow the same return-driven framework, targeting locations where we see clear opportunities to enhance per-store economics and strengthen long-term competitive positioning,” the report said.
The Houston-based company said in the report that it continues to focus on cost discipline, labor optimization and store-level execution, while advancing a measured pipeline of new-to-industry and redevelopment opportunities across its core markets.
“Retail growth is pursued deliberately, with strict return thresholds and a clear emphasis on per-store economics, rather than footprint expansion for its own sake,” the company said in the report.
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