Cumberland Farms, one of the nation’s largest convenience store petroleum marketers, is expanding its branded retail petroleum business in the Northeast by acquiring 200 Exxon-branded service stations from ConocoPhillips. The purchase price was not disclosed.

The Exxon-branded stations being purchased by Cumberland Farms, which are located in Massachusetts, New Hampshire, and New York, will join the branded Gulf stations already owned by Cumberland Farms. The newly acquired stations will continue to provide Exxon products.

"Our strategy is to expand our branded petroleum marketing presence within the Northeast and make Gulf and Exxon the service stations of choice," said Lily H. Bentas, President and Chief Executive Officer of Cumberland Farms.

"Bringing the Exxon flag into the Cumberland Farms family is a big step in reaching this goal, as well as in reaching a whole new set of customers."

Cumberland Farms owns and operates over 900 outlets, not including this acquisition, throughout New England, the Mid-Atlantic states and Florida.

In a concurrent transaction, Gulf Oil Limited Partnership, a partnership between Cumberland Farms and the Kaneb family, has agreed to become the supplier of motor fuels for the Exxon brand in New England and New York. Gulf has entered into an agreement to acquire the dealer and distributor supply contracts for the Exxon brand from ConocoPhillips. These dealers and distributors currently service over 600 Exxon locations.

Gulf will also purchase the leasehold interests of ConocoPhillips in their eleven Massachusetts Turnpike locations and has entered into a long-term supply agreement with ConocoPhillips for shipments originating out of its Bayway refinery located in Linden, New Jersey.