PHILADELPHIA -- Continuing to realize its strategy of focusing on retail, Sunoco Inc. announced yesterday that it has acquired 11 retail locations in Daytona, Fla., and the surrounding communities in Volusia County from First Coast Energy LLP.
As reported in a Morgan Keegan/CSP Daily News Flash, each location will be company operated and include an APlus convenience store.
First Coast Energy is a chain of 24 c-stores that operate throughout northern Florida, from Gainesville to Palm Court, but primarily in Jacksonville, according to CSPedia. It also licenses the Daily's c-store name to Tri Star Energy LLC in Tennessee. Including Daily's, First Coast operates 200 locations in Florida, with more than 800 employees.
"We continue to grow in areas where we enjoy great brand recognition," said Bob Owens, Sunoco's senior vice president of marketing. "With over 500 retail locations across the state of Florida, our loyal customers will always have a Sunoco nearby."
The retail locations are expected to be converted to the Sunoco and APlus brands over the next several months. The first location, which sits adjacent to the Daytona International Speedway, has already been converted to the Sunoco/APlus brand and is open to the public.
These acquisitions build on Sunoco's recent growth through acquisitions in Pennsylvania, New York, and New Jersey and expansion into Alabama. The company also assumed operations along the Garden State Parkway in New Jersey and returned to the Ohio Turnpike.
Recently, Sunoco has articulated a strategic focus on logistics and retail, selling its refineries and exiting the refinery business. Earlier this month, Lynn L. Elsenhans will step aside as CEO and president and Brian P. MacDonald, senior vice president and CFO, will become president, CEO and a director of Sunoco, effective March 1, 2012 (see Related Content below for recent CSP Daily News coverage).
Philadelphia-based Sunoco owns the general partner interest of Sunoco Logistics Partners LP, which owns and operates complementary pipeline, terminal and crude oil acquisition and marketing assets. Sunoco also has a network of approximately 4,900 retail locations in 24 states.
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