Feb 04, 2009
Hess Buys 11 Christy's of Cape Cod C-stores
By Mehgan Belanger
NEW YORK -- Days after announcing that it was switching fuel brands from Exxon to Hess, convenience store chain Christy's of Cape Cod will sell 11 of its 13 existing sites on Cape Cod, Massachusetts, to Hess Corp. As part of the agreement, the stores will be rebranded to the Hess banner.
"We're going to rebrand the stores shortly and they will see changes right away. Then we'll hold grand openings in the spring to welcome customers and introduce them to the Hess brand," Hess spokeswoman Lorrie Hecker told CSNews Online. "Christy's is one of the premier gas retailers on Cape Cod. They have a commitment to great service and value, and are a great fit with the Hess promise."
More details on the transaction, including in-store changes or additions, was not immediately available as of press time.
The Massachusetts market is an important and growing one for Hess, according to Hecker, who noted the company currently has four sites on Cape Cod, and more than 100 locations in the state. "It's a good fit for our footprint and strong fit for the brand," she added.
Most of the Christy's personnel will move to Hess according to Christy's owner, Christy Mihos, according to a report in Cape Cod Today. Mihos will continue to permit, develop and operate the new stores in Dennis and Chatham, and will continue to develop a location at the Bourne Rotary the report stated.
"We are happy that Hess will bring its buying power with over 1,400 stores on the east coast to our Cape Cod customers and the fact that Hess drills for oil, refines it and sells it at much lower prices to the customer (than an independent dealer)," Mihos told the paper.
On Jan. 28, the Cape Cod Times reported Christy's fuel supplier switch from Gulf to Hess came just two years after it changed providers from CITGO to Gulf, the Times reported.
Mihos, told the paper at the time he was pleased with the new partnership and expects to be able to offer lower fuel prices as a result.
The Christy's chain once included 144 stores throughout Eastern Massachusetts, according to Cape Cod Today. In May 1998, Mihos and his brother sold 132 of them to 7-Eleven.
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