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CHICAGO -- BP is selling 43 convenience stores and 10 commercial sites in the Chicago area through NRC Realty Advisors LLC.
After the sale, the BP sites will be reimaged to the company's ampm brand with BP- branded fuel. By franchising the sites as ampm, the deal is in line with the company's strategic plans to expand and reach more consumers, NRC said in a written statement.
"Our goal is to build and recruit a franchise network east of Rockies that complements our already-distinctive BP brand," Ben Amante, BP vice president of franchising, said in a written statement. "We also see an opportunity to reflect the diverse communities where we operate by appealing to minority business people looking to franchise in the community. We look forward to building a strong network of franchisees to help us grow our business and deliver our products and services to more consumers."
Franchise buyers will own the franchise with real estate rights, he added. Of the sites to be rebranded to ampm, 36 are existing BP-branded sites, eight of which the buyers will initially operate under the BP brand then convert to the ampm brand after the sale closes.
The sealed bid offering is due May 8. To be eligible to bid, all interested parties must register for and attend a 'How-to-Bid' seminar in Chicago on April 17. Property specific packages for each property are available from NRC Realty and can be obtained by calling (800) 747-3342, ext. 703.