NEW PALTZ, N.Y. -- In one of several deals on the part of Exxon Mobil Corp., CPD Energy Corp. has purchased ExxonMobil property assets and supply interests in 83 Mobil gas station properties in Westchester County, along with the downstate Hudson Valley areas of New York. The stations will add to the current CPD Energy portfolio of 135 sites owned, operated and supplied in the states of New York, Connecticut, New Jersey and Pennsylvania.
"ExxonMobil signed agreements to sell 266 Mobil-branded retail stations and two undeveloped sites (land banks) located in various New York [image-nocss] markets to Chestnut Petroleum, Liberty Petroleum, Bolla Oil and Cumberland Farms," Exxon Mobil Corp. spokesperson Kristen A. Hellmer told CSP Daily News.
"This is consistent with our announcement in June 2008 of our intent to transition out of the direct-serve retail business. ExxonMobil is committed to making these market conversions as smooth as possible; we expect conversion to be transparent to customers who frequent these sites; customers can expect the same high-quality Mobil products and buying experience," she added (click here for previous coverage).
As reported in CSP Daily News earlier this week, the Cumberland Gulf Group of Cos., Framingham, Mass., purchased ExxonMobil's real and contractual interests in 75 properties and a petroleum distribution fleet located in Suffolk and Nassau Counties, N.Y. (Click here for details.)
As reported in a Morgan Keegan/CSP Daily News Flash, the 83 stations sold to CPD Energy will remain branded Mobil, one of the premier gasoline brands in the Northeast. The locations will be operated as a combination of company, dealer and supply facilities.
New Paltz, N.Y.-based CPD represents the Shell, Mobil, Gulf and Sunoco brands; the 135 sites it currently operates and supplies have a cumulative volume of more than 180 million gallons. With the current acquisition, it will now have an active role in more than 200 facilities across the region.
"We are proud to welcome the dealers and employees of these stations to our company as the newest part of our family and business portfolio." said Mickey Jamal, CEO. "These high-quality facilities fit well with our company's current demographic and long-term strategy of providing quality products and outstanding customer service to the motoring public."
All Mobil employees at the company operated locations, along with field personnel are expected to be take up positions with CPD. "We are looking forward to this important part of the current Mobil staff becoming an integral part of the Chestnut Family and participating in our continuing business growth." said Jamal.
CPD (Chestnut Petroleum Distributors), was founded in 1981 by entrepreneur Mickey Jamal with one Mobil dealer location in New Paltz, N.Y. The organization has grown to include Mickey's brothers, Sal, Cal and Saleh, and it is now one of the largest distributors of gasoline products in the Northeast United States. It also offers its own line of gourmet coffee, Lotta Java, and spring water, Chestnut Ridge.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.