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CrossAmerica Partners LP enters into multi-million dollar agreement to acquire assets from Jet Pep, Inc.

Dec 29, 2024•over 1 year ago

Contract Type

partnership

United StatesEnergyOil And GasRetail

Description

CrossAmerica Partners LP announced its agreement to acquire certain assets from Jet Pep, Inc. for $72 million. The acquisition includes 102 retail sites and additional assets purchased by Circle K Stores, Inc., demonstrating CrossAmerica's expansion in the South and strategic M&A opportunities. The partnership expects the acquisition to be accretive to distributable cash flow to limited partners.

Company Information

Company

CrossAmerica Partners

Location

United States

About

CrossAmerica Partners LP operates in the petroleum industry, primarily engaged in the wholesale distribution of fuel and related products. The company operates a network of conveniently located convenience stores and gas stations across various states, focusing on providing quality fuel and retail offerings. It partners with various brands and offers services such as convenience store operations, fuel supply, and logistics. Recently, CrossAmerica has been exploring strategic partnerships and expansions to enhance its market presence and operational efficiency within the energy sector.

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