ANDERSON, Ind. -- Ricker Oil Co. will rebrand 17 ampm convenience stores that it owns in central Indiana to the Ricker's name early next year to match the remainder of its 50 Indiana stores, reported The Indianapolis Business Journal. It acquired the stores in 2008 from BP.
Last month, BP said that Anderson, Ind.-based Ricker Oil, as well as Heath, Ohio-based Englefield Oil and Mansfield, Ohio-based EZ Energy USA, would consolidate their c-store brands to the jobber's c-store brands. ( Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=63C4249D901C404C991DFB9165F0045B&AudID=7763DA803CBE410A893CD5C4ED7C9205" target="_blank">Click here for previous CSP Daily News coverage.)
Ricker Oil will spend at least $1 million across the 17 stores on new signage, a rebranding of fountain offerings as Ricker's Pop and new point-of-sale terminals, CEO Jay Ricker told the newspaper.
The changes will take place starting in mid-January and should be done by February, the report added.
"In a very competitive market, it's better to have a cohesive brand," Ricker said.
He said his company reached an agreement with ampm after both determined "we could grow our gasoline share quicker if we had our own brand." BP continues to supply the chain's petroleum products, he said.
According to the report, the chain will need every advantage as an already competitive fuel and convenience store market gets even more crowded. Turkey Hill Minit Markets, a subsidiary of Cincinnati-based The Kroger Co., opened its first Indianapolis store in October and plans to add at least five more by the end of 2011 in an aggressive expansion. (See related story in this issue of CSP Daily News.)
Other competitors include Speedway SuperAmerica and Village Pantry, the report added.