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By Mehgan Belanger
CANTON, Mass. -- As part of a previously announced plan to streamline operations, convenience chain Cumberland Farms and its sister company, Gulf Oil LP, will consolidate corporate office space into a 100,000-square-foot facility located in Framingham, Mass., according to a report in the Boston Business Journal.
About 400 employees will relocate to the new headquarters in May 2009.
The plan to streamline the company -- announced in September 2008 -- will bring synergies in corporate services or "center silo" functions, such as human resources, information technology and legal departments, resulting in cost savings and efficiencies for the overall group, Joe Petrowski, CEO of Cumberland Farms and Gulf Oil, recently told CSNews Online.
Outside of the corporate office, the plan calls for Cumberland Farms and Gulf Oil to work together toward total growth. It will affect the group's future areas of growth as well as each company's individual plans for expansion, according to company executives. The intention, they said, is to grow both sides with separate strategies that borrow from the sister company's strengths. As a result, the group will be able to take better advantage of growth opportunities in existing and new markets.
Add in the poor economy, along with the trend toward industry consolidation, which together "will lead to a large period of consolidation where we are uniquely situated to be in a position to choose what areas we want to get into," Petrowski told CSNews Online.