Delek Expanding
TEL AVIV -- Israeli oil company Delek Group said it is in talks to acquire a chain of 85 convenience stores, but declined to identify the company or its location.
The stores have annual sales of $200 million, Delek said in a statement, adding it would provide more detailed
information if a binding contract is signed.
Delek said the stores fit in with its strategy of expanding its activity in the area of convenience stores.
The Delek Group has interests in petroleum products, energy and oil exploration, the import and distribution of cars, property and infrastructure projects, while its Delek unit is one of Israel's largest distributors of fuel products.
Delek jumped into the U.S. market last year when it purchased 198 Mapco Express stores for $147 million from energy giant The Williams Cos. Inc. of Tulsa, Okla. The Israeli company followed that up with the acquisition of 36 units from Richmond, Va.-based East Coast Oil Corp. for $36.5 million.
The stores have annual sales of $200 million, Delek said in a statement, adding it would provide more detailed
Delek said the stores fit in with its strategy of expanding its activity in the area of convenience stores.
The Delek Group has interests in petroleum products, energy and oil exploration, the import and distribution of cars, property and infrastructure projects, while its Delek unit is one of Israel's largest distributors of fuel products.
Delek jumped into the U.S. market last year when it purchased 198 Mapco Express stores for $147 million from energy giant The Williams Cos. Inc. of Tulsa, Okla. The Israeli company followed that up with the acquisition of 36 units from Richmond, Va.-based East Coast Oil Corp. for $36.5 million.
In addition, make sure to read these articles:
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- Delek Buys BP Gas Stations for $33.5 Million
- A.M. Best Affirms Ratings of Republic Companies; Removes Ratings From Under Review.
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- MAPCO Express Adopts New BI Software
- DELEK GROUP SUBSIDIARY EXERCISE OPTION, BUYS C-STORES FROM WILLIAMS
- Fueling Poor Performance
- Starbucks Dissolves Joint Venture with the Delek Group of Israel; Starbucks Commitment to...
- A.M. Best Places Ratings of Republic Companies Under Review With Developing Implications.
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OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of "a-" of ......
Delek looks to expand in Europe.
Retailer to modernize store operations and merchandising management.
Convenience retailer to modernize store operations and merchandising management.
Mostly Alabama-based venues carry $50.6 million price tag.
The company will use Clarity Systems' planning, reporting and performance monitoring program.
Williams Express Inc. agreed to sell its 198 convenience stores to Delek - The Israel Fuel Corp. Ltd., a Delek Group subsidiary, for a base ......
By Mitch Morrison and John Lofstock ......
Business Editors SEATTLE--(BUSINESS WIRE)--March 31, 2003 Starbucks Coffee International, a wholly owned subsidiary of Starbucks Coffee Company (Nasdaq:SBUX), and the Delek Group of Israel today ......
OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of A- (Excellent) and issuer credit ratings (ICR) of "a-" of Republic ......
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