OAKHURST — Arguably the busiest convenience store in the Oakhurst area is about to have a new look as new owners take over the business.
The Valero Corner Store, located at 40475 Highway 41, has been purchased along with 75 other California locations and 3 in Wyoming, by the 7-Eleven Corporation. The Corner Store was owned by CST Brands out of San Antonio, Texas, which spun off from Valero Energy Corp. in 2013.
Employees at the Oakhurst location do not yet know what their future holds. After a meeting today between management and representatives from their new owner’s corporate offices, they have been informed that next week a list will be released of which California stores will be retained and which may be sold.
A request for more information from Valero elicited this response: “You will have to contact the store owner. Valero is no longer in the retail business.” We are awaiting a response from 7-Eleven.
In the meantime, we can say that the San Antonio Express-News reported on May 5 that “San Antonio-based convenience store operator CST Brands has agreed to sell its stores in California and Wyoming to 7-Eleven for $408 million. Kim Lubel, the company’s CEO and president, has said that California’s high property costs limit the company’s ability to build new stores and expand existing ones.”
To read the entire article in the San Antonio Express-News, click here.