FRANKLIN, Tenn.--(BUSINESS WIRE)--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(R), MAPCO Mart(TM), East Coast(R), Favorite
Markets(TM) and Discount Food Mart(TM) 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.
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.
CONTACT: Delek US Holdings, Inc.
Investor Relations Contact:
Assi Ginzburg, 615-224-1179
Vice President of Strategic Planning
For Delek US Holdings, Inc.:
Corporate Communications Inc.
Scott Brittain or Kristina Korte, 615-254-3376
U.S. Media Contact:
Lovell Communications Inc.
Paula Lovell, 615-297-7766
Israel Media Contact:
Lior Chorev, 011-972-3-644-0404
SOURCE: Delek US Holdings, Inc.