Valero Acquires More Retail Locations (VLO)

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By Douglas A. McIntyre Published
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Valero Energy Corp. (NYSE: VLO) has announced that it signed an agreement to purchase 72 convenience stores and fueling kiosks from Albertson’s LLC. The financial terms of the acquisition were not disclosed, although it is expected to close in August 2008.  The new sites will be reimaged to the Corner Store brand and they will sell Valero-branded fuel for autos.

This transaction will expand Valero’s company-owned retail presence in Texas, Colorado, Arizona and Louisiana, where Valero already operates approximately 950 company-owned Corner Store locations.

Valero is already one of the largest retail operators in North America with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean.  Its brands are Valero, Diamond Shamrock, Shamrock, Ultramar, Corner Store, and Beacon.

Jon C. Ogg
May 5, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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