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TOLEDO, Ohio -- With the purchase of 24 BP branded convenience stores in the area, Barney's Convenience Mart is poised to become the largest gas retailer in the state, according to a report in the Toledo Blade.
Barney's, which is operated by Dearborn, Mich.-based Armada Oil & Gas Co., will rebrand the stores to the Barney's banner, while the BP branded gas will remain, Allie Berry, the chain's vice president, told the paper.
There are currently 10 Barney's stores in the state. The acquisition brings that number to 34 convenience stores that will sell approximately 70 million gallons of gas per year, according to Roy Clark, the vice president of operations in Toledo, Ohio. Prior to the acquisition, the chain sold 17 million gallons of gas a year.
As part of the deal, the 10 existing Barney's stations will convert to BP branded gas on Feb. 1, with signs changing later in the spring, Clark told the Blade. In addition, the company made commitments to add up to 21 c-stores in Northwest Ohio that will sell BP branded gas, according to Valerie Corr, a BP spokeswoman.
"There was an opportunity for Armada to buy these stores, and they picked them up," Clark told the Blade. "Their plan is to expand and build more or buy more in this area."
Armada Oil, the largest BP marketer in Michigan with more than 230 locations, entered the Toledo, Ohio market when it purchased J-F Enterprises Inc., operator of the 10-store Barney's chain, earlier in 2006.
The purchase price was not disclosed.