Puma Energy acquires Chevron businesses
1 August 2012 - San Juan, Puerto Rico - Puma Energy concluded today the transaction to acquire all of Chevron‘s fuel marketing and aviation businesses in Puerto Rico and the US Virgin Islands.
The new company will be managed by PC Puerto Rico, LLC. As part of the business purchase agreement, all of Chevron’s operations, including the Retail Service Stations, will remain operating under the Texaco brand for a period that could last up to 18 months. During this 18 month period, the Retail Service Stations will transition into the Puma brand.
The business purchase includes:
- 192 Retail Service Stations operating in Puerto Rico
- 7 Retail Service Stations operating in the US Virgin Islands
- An aviation fuel supply business in US Virgin Islands
- Storage terminals in Puerto Rico (Guaynabo and CORCO) and St Thomas (US Virgin Islands)
- Industrial Clients in Puerto Rico and the US Virgin Islands
This acquisition follows Chevron’s announcement in 2010 of its intention to sell its businesses in the Caribbean.
Puma Energy plans to launch an investment program to ensure that the newly-acquired facilities are successfully integrated into the company’s fast-growing operations.
“This deal further confirms Puma Energy’s long-term commitment to Puerto Rico and our standing as one of the region’s largest investors,” said Victor Dominguez, General Manager of Puma Energy Caribe, LLC.
“By acquiring Chevron’s businesses in these markets, we will seek to achieve greater operational efficiencies, improving our ability to provide high quality, competitively priced fuel to all our customers.”
This acquisition marks the end of the most recent milestone of a successful period in the region for Puma Energy. In May 2011, the company purchased CAPECO’s retail and storage network in Puerto Rico. In addition, in March 2012 Puma Energy acquired Exxon Mobil's fuels marketing and supply businesses in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama, thus, demonstrating Puma Energy’s continued commitment to the region.
For further information on Puma Energy, visit: http://www.puma-energy.com/
Puma Energy press office:
Tel: +1 832 320 2871
Local contacts: Avant Communications Consultants
Sandra D. Rodríguez Cotto / Pepo García
Tel: (787) 773-0000, 773-0001, 220-4648, 220-4649
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