An October 2024 transaction between a U.S. company and a Mexican company resulted in a chain of U.S.-based gas station convenience stores becoming owned by the Mexican company. The US company is Delek US Holdings, Inc., which sold its retail operations for $385 million. These retail operations consisted of 249 convenience stores operating under the DK brand located in New Mexico, Arkansas and Texas. Delek is an energy company involved in petroleum and renewable fuels. As a producer of oil products, it has a refining capacity of 302,000 barrels per day. It is also one of five owners of the 650-mile oil pipeline that runs from Wink to Webster in Texas’ Permian Basin, which carries more than a million barrels of crude oil and condensate daily to the Gulf Coast.
The Mexican company that bought the convenience stores at Delek gas stations is called FEMSA. It is a huge conglomerate that includes the OXXO chain of 28,800 convenience stores in Mexico, Chile, Peru, Brazil and Colombia. FEMSA also owns the franchise bottler with the largest volume of Coca-Cola products in the world. It has a total of more than 392,000 employees in 18 countries, including Europe, after buying food retail company Valora in 2022. FEMSA is also involved in many other business ventures, including drugstores and digital financial services.
How the FEMSA takeover affected convenience stores in DK
As for the supply of fuel products to the stores, FEMSA continued to purchase them from Delek after the change in ownership. Delek continues to operate hundreds of fuel stations under both the DK and Alon brands, positioning itself as a locally produced, high-quality fuel supplier with a lower environmental footprint. While this acquisition may have been FEMSA’s first attempt to plant its flag in the US, the company has said it plans to become a major player in the US market. FEMSA is not the only foreign operator to land here; the Speedway gas station chain is owned by a Japanese company.
#Gas #Station #Convenience #Stores #Owned #Mexico #SlashGear