Texaco is looking to offload a further 100 company-owned forecourt sites over the next 18 months as it focuses on its core fuel distribution business.
Speaking as the fuel giant revealed it was in talks with Somerfield about selling 140 of its 240 company-owned forecourts, a spokesman said: “We have been gradually whittling down our own sites in recent years to focus on supplying fuel. We are interested in talking to independent retailers or groups. The final 100 should take around 18 months to offload.”
Although it was not in active negotiations with
Texaco at this stage, The Grocer Top 50 number two chain Tates said it was always on the lookout for new sites.
A spokesman said: “We’re already looking at Texaco sites that have been bought by developers on a speculative basis. I think a lot of people will be interested in these new sites.”
Under Texaco’s proposed deal with Somerfield, which is itself in takeover talks with Icelandic investor Baugur, Texaco will continue to supply fuel to the forecourts, but the stores will be rebadged as Somerfield c-stores.
Coming hot on the heels of Somerfield’s acquisition of a tranche of Safeway stores, the deal would boost Somerfield’s forecourt estate to 170 and significantly increase its presence in the convenience market.
The plan is for a property developer to acquire the properties and lease them back to Somerfield, said a spokeswoman.
The deal will come as a setback to online wholesaler Blueheath, which supplies much of Texaco’s company-owned estate with non-food and toiletries.
Following the proposed sale, Texaco will maintain a marketing presence in the UK as a branded wholesaler, supplying fuel to 1,100 Texaco-branded third-party service stations, said the company.
Speaking as the fuel giant revealed it was in talks with Somerfield about selling 140 of its 240 company-owned forecourts, a spokesman said: “We have been gradually whittling down our own sites in recent years to focus on supplying fuel. We are interested in talking to independent retailers or groups. The final 100 should take around 18 months to offload.”
Although it was not in active negotiations with
Texaco at this stage, The Grocer Top 50 number two chain Tates said it was always on the lookout for new sites.
A spokesman said: “We’re already looking at Texaco sites that have been bought by developers on a speculative basis. I think a lot of people will be interested in these new sites.”
Under Texaco’s proposed deal with Somerfield, which is itself in takeover talks with Icelandic investor Baugur, Texaco will continue to supply fuel to the forecourts, but the stores will be rebadged as Somerfield c-stores.
Coming hot on the heels of Somerfield’s acquisition of a tranche of Safeway stores, the deal would boost Somerfield’s forecourt estate to 170 and significantly increase its presence in the convenience market.
The plan is for a property developer to acquire the properties and lease them back to Somerfield, said a spokeswoman.
The deal will come as a setback to online wholesaler Blueheath, which supplies much of Texaco’s company-owned estate with non-food and toiletries.
Following the proposed sale, Texaco will maintain a marketing presence in the UK as a branded wholesaler, supplying fuel to 1,100 Texaco-branded third-party service stations, said the company.
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