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MERIDIAN, Idaho -- Jacksons Food Stores, based here, acquired 96 Shell-branded locations in the Seattle region through PacWest Energy LLC, a joint venture it created with Shell Oil Products US.
Of the 96 sites, 54 will be owned and operated by Jacksons, company president John Jackson told CSNews Online. The remaining 42 will be supplied fuel by the company's wholesale entity, Jackson Oil, he said.
As reported in a CSNews Breaking News Alert yesterday, PacWest Energy was formed more than a year ago when Jacksons acquired 84 Shell sites in the Portland, Ore. and Eugene, Ore., markets from Shell Oil.
"It was a natural expansion of the Portland market, and it's all the same product stream," said Jackson. "Through the Portland acquisition, we had a few sites in Washington and Vancouver, so it was an attractive buy."
The company-operated sites are in the process of being rebranded to the Jacksons banner, with additional enhancements to be completed within 24 months, Jackson told CSNews Online. Changes will vary from a raze and rebuild, to a "paint and powder," and everything in between, he explained.
The action was part of Shell's ongoing divesture of its direct-supplied and company-operated retail assets to joint venture- and wholesale-supplied, according to Jackson, who noted Jacksons had been looking at the sites for approximately a year.
Jacksons also completed an acquisition of 14 Chevron-branded stores in the Reno, Nev., area last month. Of those stores, 10 will be company-operated and the remainder will see lessee dealers, Jackson said. Similar to the newly acquired stores in Seattle, the Reno stores were rebranded to the Jacksons banner.
With these acquisitions, Jacksons operates 213 stores and supplies fuel to more than 500.
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