CrossAmerica Partners LP completed the acquisition of Certain Assets of Applegreen Midwest LLC and Applegreen Florida, LLC.
April 29, 2024
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CrossAmerica Partners LP entered into an agreement to acquire Certain Assets of Applegreen Midwest LLC and Applegreen Florida, LLC for $16.9 million on January 26, 2024. The Partnership will also acquire for cash the inventory at the locations. The termination of the existing lease agreements pursuant to the Applegreen Purchase Agreement is contemplated to occur during the first and second quarters of 2024 and is subject to customary closing conditions.
CrossAmerica Partners LP completed the acquisition of Certain Assets of Applegreen Midwest LLC and Applegreen Florida, LLC on April 30, 2024.
CrossAmerica Partners LP is a wholesale distributor of motor fuels, convenience store operator, and owner and lessee of real estate used in the retail distribution of motor fuels. The Company operates through two segments: Wholesale, and Retail. The Wholesale segment includes the wholesale distribution of motor fuel to lessee dealers and independent dealers. The Retail segment includes the retail sale of motor fuel at retail sites operated by commission agents and the sale of convenience merchandise items and the retail sale of motor fuel at company operated sites. The Company distributes motor fuel on a wholesale basis to approximately 1,700 sites located in 34 states. The Company owns or leases approximately 1,100 sites, of which it operates 295 as company operated sites. The Company distributes branded motor fuel under the Exxon, Mobil, BP, Shell, Sunoco, Valero, Gulf, Citgo, Marathon, and Phillips 66 brands to its customers.