LONG BEACH, Calif. – Expanding its retail footprint in Southern California, United Pacific has acquired 39 convenience-store properties from Macland Investments, Ventura, Calif., according to a press statement obtained by The Los Angeles Business Journal.
The companies did not disclose the financial terms of the deal.
- United Pacific is No. 21 on CSP’s 2018 Top 202 ranking of convenience-store chains by number of company-owned retail outlets.
Of the 39 stations purchased by United Pacific, 32 are in Los Angeles County; the remainder are in Orange, Santa Barbara and Ventura counties, said the report.
The deal also includes seven car washes and five quick-service restaurants. Macland is an investment company with diversified gas-station, convenience-store and car-wash holdings and real estate investments.
Fortress Investment Group created Long Beach, Calif.-based United Pacific from the purchase of United Oil Co. in 2015. United Pacific is now owned by SoftBank Group Corp., a Tokyo-based telecom holding company and investment firm.
Once this acquisition is complete, United Pacific’s network will include 365 company-operated stores and 55 fee-operated locations, the company said. Most of Macland’s employees will become employees of United Pacific, which will bring United Pacific’s total to more than 2,800 employees, it said.
“The addition of Macland’s stores to the United Pacific retail network significantly strengthens our company,”said Joe Juliano, United Pacific’s CEO. “We are excited about bringing such a high-quality convenience-store portfolio and talented and loyal group of employees into the United Pacific family. The addition of the Macland stores also expands our retail presence in Southern California, which remains a core growth area for United Pacific.”
United Pacific is a major independent owner and operator of gas stations and c-stores in the Western United States. It offers motor fuels products under the 76, Conoco, Shell and United Oil flags, and convenience items through the We Got It! Food Mart, My Goods Market and Circle K brands. The company operates retail and wholesale businesses in California, Nevada, Oregon, Washington and Colorado.