EX-99.1
2
a5372877ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
Exhibit
99.1
DELEK
US ANNOUNCES CLOSING OF PURCHASE OF RETAIL FUEL AND
CONVENIENCE
STORES FROM CALFEE COMPANY OF DALTON, INC.
FRANKLIN,
TN. April 9, 2007 - Delek US Holdings, Inc. (NYSE: DK) today announced that
MAPCO Express, Inc., a wholly-owned subsidiary, has completed the purchase
of 90
retail fuel and convenience stores from Calfee Company of Dalton, Inc. and
affiliated companies ("Calfee"), for approximately $57 million excluding
inventory. The Company continues to work toward completing the purchase of
the
remaining 17 stores that are subject to the parties' definitive purchase and
sale agreement. In the meantime, the Company will operate the remaining stores
pursuant to an operating and management agreement between the parties. The
Company expects to complete the purchase of the remaining stores for a purchase
price of approximately $8 million during the current quarter after necessary
closing conditions are satisfied. The stores operate under the brand Favorite
Markets, and are located primarily in eastern Tennessee and northern
Georgia. During the previous three fiscal years ending April 30, the 107
stores produced average sales of approximately $242 million, average
merchandise sales of $87 million and average fuel sales of 83 million
gallons.
Uzi
Yemin,
President and Chief Executive Officer of Delek US, said, "We are pleased to
announce the substantial completion of our third acquisition since our initial
public offering in May 2006. With this acquisition, we increase our stores
in
operation to nearly 500, which represents a strategic milestone. Together with
the 43 Fast Petroleum stores acquired last summer, we believe the Favorite
Markets stores establish MAPCO as a market leader in the Chattanooga
market."
About
the Company:
Delek US
Holdings, Inc. is a diversified energy business focused on petroleum refining,
marketing and supply, and retail marketing. The refining segment operates a
high
conversion, independent refinery, with a design crude distillation capacity
of
60,000 barrels per day, in Tyler, Texas. The marketing and supply segment
markets refined products through its terminals in Abilene, Texas and San Angelo,
Texas as well as other third party terminals. The retail segment markets
gasoline, diesel and other refined petroleum products and convenience
merchandise through a network of company-operated retail fuel and convenience
stores, operated under the MAPCO Express®, MAPCO Mart™, East Coast®, Favorite
Markets™ and Discount Food Mart™ brand names.
Safe
Harbor Provisions Regarding Forward-Looking
Statements:
Statements in this press release concerning matters that are not historical
facts are "forward-looking statements", as that term is defined under the
federal securities laws. The forward-looking statements are based upon current
expectations and involve a number of risks and uncertainties that could cause
actual results and events to differ materially from the results and events
anticipated or implied by such forward looking statements.
-MORE-
These
risks and uncertainties include, but are not limited to: our competitive
position and the effects of competition; the projected growth of the industry
in
which we operate; management's ability to execute its strategy of growth through
acquisitions and transactional risks in acquisitions; general economic and
business conditions, particularly levels of spending relating to travel and
tourism or conditions affecting the southeastern United States; and other risks
contained in our filings with the Securities and Exchange Commission. The past
results achieved by Calfee in operating its stores and the future results to
be
achieved by the Company in operating the Calfee stores may differ. Delek US
undertakes no obligation to update or revise any such forward-looking
statements.
Investor
Relations Contact:
Assi
Ginzburg
Scott
Brittain
Vice
President of Strategic Planning
Kristina
Korte
Delek
US Holdings, Inc.
Corporate
Communications Inc.
615/224-1179
615-254-3376
U.S.
Media Contact:
Israel
Media Contact:
Paula
Lovell
Lior
Chorev
Lovell
Communications Inc.
Arad
Communications
615-297-7766
011-972-3-644-0404
615-972-2964
(Cell)
-END-

EX - 99 . 1 2 a5372877ex99 _ 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Exhibit 99 . 1 DELEK US ANNOUNCES CLOSING OF PURCHASE OF RETAIL FUEL AND CONVENIENCE STORES FROM CALFEE COMPANY OF DALTON , INC . FRANKLIN , TN . April 9 , 2007 - Delek US Holdings , Inc . ( NYSE : DK ) today announced that MAPCO Express , Inc . , a wholly - owned subsidiary , has completed the purchase of 90 retail fuel and convenience stores from Calfee Company of Dalton , Inc . and affiliated companies ( " Calfee " ) , for approximately $ 57 million excluding inventory . The Company continues to work toward completing the purchase of the remaining 17 stores that are subject to the parties ' definitive purchase and sale agreement . In the meantime , the Company will operate the remaining stores pursuant to an operating and management agreement between the parties . The Company expects to complete the purchase of the remaining stores for a purchase price of approximately $ 8 million during the current quarter after necessary closing conditions are satisfied . The stores operate under the brand Favorite Markets , and are located primarily in eastern Tennessee and northern Georgia . During the previous three fiscal years ending April 30 , the 107 stores produced average sales of approximately $ 242 million , average merchandise sales of $ 87 million and average fuel sales of 83 million gallons . Uzi Yemin , President and Chief Executive Officer of Delek US , said , " We are pleased to announce the substantial completion of our third acquisition since our initial public offering in May 2006 . With this acquisition , we increase our stores in operation to nearly 500 , which represents a strategic milestone . Together with the 43 Fast Petroleum stores acquired last summer , we believe the Favorite Markets stores establish MAPCO as a market leader in the Chattanooga market . " About the Company : Delek US Holdings , Inc . is a diversified energy business focused on petroleum refining , marketing and supply , and retail marketing . The refining segment operates a high conversion , independent refinery , with a design crude distillation capacity of 60,000 barrels per day , in Tyler , Texas . The marketing and supply segment markets refined products through its terminals in Abilene , Texas and San Angelo , Texas as well as other third party terminals . The retail segment markets gasoline , diesel and other refined petroleum products and convenience merchandise through a network of company - operated retail fuel and convenience stores , operated under the MAPCO Express ® , MAPCO Mart ™ , East Coast ® , Favorite Markets ™ and Discount Food Mart™ brand names . Safe Harbor Provisions Regarding Forward - Looking Statements : Statements in this press release concerning matters that are not historical facts are " forward - looking statements " , as that term is defined under the federal securities laws . The forward - looking statements are based upon current expectations and involve a number of risks and uncertainties that could cause actual results and events to differ materially from the results and events anticipated or implied by such forward looking statements . - MORE - These risks and uncertainties include , but are not limited to : our competitive position and the effects of competition ; the projected growth of the industry in which we operate ; management 's ability to execute its strategy of growth through acquisitions and transactional risks in acquisitions ; general economic and business conditions , particularly levels of spending relating to travel and tourism or conditions affecting the southeastern United States ; and other risks contained in our filings with the Securities and Exchange Commission . The past results achieved by Calfee in operating its stores and the future results to be achieved by the Company in operating the Calfee stores may differ . Delek US undertakes no obligation to update or revise any such forward - looking statements . Investor Relations Contact : Assi Ginzburg Scott Brittain Vice President of Strategic Planning Kristina Korte Delek US Holdings , Inc . Corporate Communications Inc . 615 / 224 - 1179 615 - 254 - 3376 U . S . Media Contact : Israel Media Contact : Paula Lovell Lior Chorev Lovell Communications Inc . Arad Communications 615 - 297 - 7766 011 - 972 - 3 - 644 - 0404 615 - 972 - 2964 ( Cell ) - END -
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