Houston-based startup Panthers Petroleum in the US, has acquired 23 fuel stations with convenience stores iand plans to grow to over 50 locations..
With more than 15 years of running operations and stores in the gasoline and c-store industry, Panthers Petroleum CEO Chaudhry Ayaz said gas stations seem like a straightforward business, but there are lots of complexities. He credits his industry relationships.
“I'm very connected with the local community,” Ayaz said. “Most of my opportunities have come through my personal network.”
As for the company’s growth strategy, Ayaz said Panthers Petroleum acquires existing gas stations with convenience stores, takes over the operations and signs a long-term lease.
“Then we sell the real estate and roll the sale proceeds into the next acquisition.” He said that once he obtained the capital to run acquisitions, “it just snowballed.”
The stores are branded differently depending on the fuel contract that is in place. “Stores consists of brands like Shell, Valero, Chevron, Texaco and Sunoco,” the company said.
Full article Panthers Petroleum Acquired 23 Convenience Stores in Houston Area in 2024
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