CALGARY -- Imperial Oil Ltd. (TSX:IMO) is thinking about selling its 500 company-owned Esso gas stations, saying it is exploring a plan to transition the stations to what it calls a "branded wholesaler" operating model.
The plan would see Imperial supply the gasoline, but independent owners would operate the stations under Esso brand standards.
It will also look at growth opportunities for its On the Run convenience store banner.
Roughly two-thirds of Imperial's 1,700 Esso-branded retail gas stations in Canada already operate under the branded wholesaler model.
Imperial says the evaluation will include a non-binding bid process.
The company says prospective buyers could include current or potential branded wholesalers.
"Esso has a long, successful history as a leading retailer of high-quality fuels," said Brad Merkel, vice-president of fuels and lubricants at Imperial.
"This evaluation will determine if strategic investments, through new business partnerships, can fuel further growth of the Esso brand in Canada."
