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Sao Paulo based Ultrapar Participacoes will expand by buying smaller chains says CEO Pedro Wongtschowski.
Ultrapar operates the second largest fuel distribution chain in Brasil, with more than 5,000 outlets. It acquired Chevron’s Texaco-brand stations for 1.1 billion reais ($645 million). Ultrapar has already converted 1,100 of the 1,300 Texaco outlets it acquired into Ipiranga stations.
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