Esso Thinking About Selling 500 Corporate Stations

Imperial Oil Ltd. is thinking about selling 500 corporate gas stations to partners who would continue to sell fuel under the Esso brand.

This is not the first petroleum company to evaluate their continued business in convenience store retailing. Irving Oil, Shell and others in Canada have made the decision to partner with experts in convenience retailing.

Approximately 2/3rds of Esso’s stations are currently managed under a “branded wholesaler” model.  This model frees up capital and allows managers/store owners to manage their business like true entrepreneurs.  It is a lot easier to save money when it is your own versus someone else’s.

Imperial Oil is exploring strategic options and have not indicated what timeframe they will make a decision.