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Chilean c-store giant to enter US with MAPCO buy

The largest operator of convenience stores in Chile, Compañía de Petróleos de Chile COPEC S.A. (COPEC), enters the United States market by buying c-store chain MAPCO Express Inc. for $535 million from Delek Holdings, reports Nashville Post.



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Author: PetrolPlaza Correspondent Daniel Infante Tuaño

The acquisition deal is expected to be completed by the end of 2016 subject to customary regulatory and closing conditions, according to csnews.com.

MAPCO’s retail team will be retained to facilitate the transition and COPEC’s entry into the US market.

MAPCO operates 348 locations in Tennessee, Alabama and Georgia, Arkansas, Virginia, Kentucky, and Mississippi and sells fuel to 142 stores.

COPEC, one of Chile’s largest companies, controls about 53 percent of the South American country’s gasoline sales market.  It also has a majority stake in a Colombian company that controls 45 percent of fuel market in Colombia. COPEC-owned 233 stores are spread out in Panama, Ecuador, Peru, and Mexico.

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