The Pantry, Inc. (Nasdaq:PTRY), operator of Kangaroo Express stores and the leading independently operated convenience store chain in the southeastern United States, today announced a fuel supply agreement with Marathon Petroleum Company LLC, the refining, marketing and transportation operations of Marathon Oil Corporation (NYSE:MRO).
Under the terms of the agreement, Marathon will supply fuel to more than 600 Pantry locations, with a joint branding relationship at approximately 285 of these sites. The store and fuel forecourt re-branding will initially be introduced in Charlotte, N.C. Throughout the remainder of the year, all joint brand location conversions will be completed across a seven-state southeastern marketing region.
“We are very pleased to announce this agreement with Marathon, which marks an important step in our commitment to provide guests of Kangaroo Express stores with the finest brands available,” said Terry Marks, President and Chief Executive Officer, The Pantry. “An equally important consideration for us is reliability of supply, and Marathon’s reputation for outstanding customer service is well known throughout the industry. This partnership is a true win for the guests and shareholders of The Pantry.”
“With its enviable footprint in the growing southeastern region, The Pantry is well known as one of the nation’s leading independently-operated convenience store chains. We are excited to partner with them as they launch their “Fresh Initiative” throughout their stores to enhance the experience of the customer. This is a company clearly on the move,” said Tom Kelley, Marathon’s senior vice president of Marketing. “The combination of The Pantry’s extensive store network and Marathon’s supply infrastructure that includes our premier Garyville refinery will be an ideal fit to provide their customers quality fuels.”
The Pantry’s “Fresh Initiative” will be introduced to the re-branded Kangaroo Express convenience stores in Charlotte, bringing new great tasting coffee and fresh food to guests in a fast, friendly, and clean store environment. The Fresh Initiative includes renovations and remodeling of select stores with the Kangaroo Express banner across the southeastern United States.