CHS Acquires Zip Trip Convenience Stores; Will Rebrand as Cenex

12/03/08 CHS Inc., a leading energy and grain-based foods company, has signed a purchase agreement to acquire 33 Zip Trip convenience stores in the Spokane area, owned in part by Jopo, Inc., and Jo-By Enterprises, LLC.

CHS will operate Zip Trip locations under its Cenex energy brand. The purchase will make Spokane the largest single metropolitan market for Cenex convenience stores in the U.S. There currently are six Cenex retail locations in Spokane operated by an independent dealer.

"We have a long history of serving Pacific Northwest consumers with Cenex-branded retail facilities and products and look forward to expanding in the Spokane market," said Don Olson, senior vice president of refined fuels, CHS. "The proximity to our Laurel, Mont., refinery allows us to efficiently provide reliable supplies of quality gasoline and diesel fuel to these retail locations."

Financial terms were not disclosed. Of the 33 convenience stores, the majority are located in metropolitan Spokane, with additional facilities in Clarkston, Wash., and in Lewiston, Couer'd Alene, Grangeville, Moscow and Bonners Ferry, Idaho.

There currently are 1,600 Cenex-branded retail operations in the U.S., including 800 convenience stores most of which are operated by cooperatives and independent retailers. The 33 stores will be owned and operated by CHS energy business utilizing existing Zip Trip store management and retail staff.

The re-identification of the locations to the Cenex brand is expected to be complete by mid-summer 2008.