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EARTH CITY, Mo. -- The remaining 13 company-owned Sinclair convenience stores in the state have been sold to Western Oil, based here, according to Chicago-based The Energy Exchange.
"We are excited about the transaction and believe with the new imaging the stores will experience new energy and increased volume," Dick Jacobsen of Western said in a statement.
Of the 13 locations, 12 included real estate, and one was a leasehold. Three locations were company-operated, while the remainder were commission marketers. The stores were located in the following cities: Florissant (five locations), St Louis (four), Bellefontaine, Festus, Columbia and University City. The purchase price was not disclosed, by The Energy Exchange.
The locations retail nearly 13 million gallons of fuel annually. The locations will all be rebranded to ConocoPhillips.
CSNews Online was first to report in August 2009 that Sinclair Oil Corp. decided to sell its chain of 90 company-owned retail service stations, mostly located in Nebraska, Minnesota, Utah, Colorado and Oklahoma. At the time, Sinclair Marketing said the company gradually reduced the number of company-owned retail convenience stores over the past decade, and the majority of the company's fuel sales were at the wholesale level to independent petroleum distributors and marketers.
Sinclair will continue wholesale fuel marketing throughout the Midwest, and is nearly complete with its exit from the retail business, according to The Energy Exchange, a commercial real estate firm specializing in gas station and convenience stores.
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