The stores were located in Florissant (5), St Louis (4), Bellefontaine, Festus, Columbia and University City. The locations will all be rebranded to ConocoPhillips.
Of the 13 stores, 12 were with real estate and one was a leasehold; three were company operated and the balance were commission marketers. [image-nocss] The locations were retailing nearly 13 million gallons of fuel annually.
Western Oil operates more than 30 Petro Mart stations, primarily in Missouri, with one location in Illinois. The locations are branded Conoco, Phillips and BP.
Dick Jacobsen of Western Oil said, "We are excited about the transaction and believe with the new imaging the stores will experience new energy and increased volume."
As reported in a Morgan Keegan/CSP Daily News Flash, the Energy Exchange, Chicago, a commercial real-estate firm specializing in gas station and convenience stores, announced the successful completion of the sale on Friday.
Last August, Salt Lake City-based Sinclair said that it had made a commitment to exit retail by the first quarter of 2010. At the time, a letter announcing the sale of the retail sites noted that the owners of Sinclair Oil have "faced tough economic challenges for the past year in nearly all of the business units."
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Sinclair will continue wholesale fuel marketing throughout the Midwest and is nearly complete with its exit from the retail business. The company licenses its name and iconic green "Dino" logo to more than 2,600 stores that sell the Sinclair brand of gasoline.
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