Applegreen Acquires South Carolina Site In $5.4m Deal
Applegreen has acquired an operation in South Carolina in the US for $5.4 million (€4.76 million) it was recently announced.
The forecourt retailer's deal to acquire the trade and certain assets of the US-based Bob Brandi Stations has been made in conjunction with an institutional real-estate investor who will acquire certain property assets of the business for $70.1 million, reported Irishtimes.ie.
Reportedly, Applegreen’s consideration of $5.4 million will be funded from existing resources, the company said yesterday.
The transaction is expected to be finalised in 'last quarter of the year'.
It was also outlined that of the 42 sites, reportedly 34 sites are filling stations and the rest are stand-alone Burger King outlets.
Bob Etchingham, chief executive of Applegreen, has said that the US was 'an easier place to penetrate' than Europe and their main focus was to keep the company’s 'very rapid pace of growth going forward'.
© 2017 - Checkout Magazine by Donna Ahern