CrossAmerica Partners LP: Announces the Closing of the Acquisition of Erickson Oil Products, Inc
(Thomson Reuters ONE) -
CrossAmerica Partners LP Announces the Closing of the Acquisition of Erickson
Oil Products, Inc.
ALLENTOWN, PA (February 17, 2015) - CrossAmerica Partners LP (NYSE: CAPL) (the
"Partnership") announced today that it closed on the previously announced
purchase of all the outstanding shares of Hudson, WI based Erickson Oil
Products, Inc. ("Erickson") and certain related assets for $85 million, subject
to certain post- closing adjustments. Erickson operates 64 convenience stores
located in Minnesota, Michigan, Wisconsin and South Dakota, with a concentration
in the Minneapolis / St. Paul region. The transaction was financed under the
Partnership's credit facility.
About CrossAmerica Partners LP
CrossAmerica Partners, headquartered in Allentown, PA, is a leading wholesale
distributor of motor fuels and owner and lessee of real estate used in the
retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC,
is a wholly owned subsidiary of CST Brands, Inc., one of the largest independent
retailers of motor fuels and convenience merchandise in North America. Formed
in 2012, CrossAmerica Partners distributes fuel to over 1,100 locations and owns
or leases more than 625 sites in sixteen states: Pennsylvania, New Jersey,
Ohio, Florida, New York, Massachusetts, Kentucky, New Hampshire, Maine,
Tennessee, Maryland, Delaware, Illinois, Indiana, West Virginia and Virginia.
The Partnership has long-term established relationships with several major oil
brands, including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf and
Citgo. CrossAmerica Partners ranks as one of ExxonMobil's largest distributors
by fuel volume in the United States and in the top 10 for many additional
brands. For additional information, please visit www.crossamericapartners.com.
Investor Contact:
Karen Yeakel
Vice President, Investor Relations
CrossAmerica Partners LP
610-625-8126
kyeakel(at)lehighgas.com
Forward-Looking Statements
This press release and any oral statements made regarding the subjects of this
release may contain forward-looking statements, which may include, but are not
limited to, statements regarding the Partnership's plans, objectives,
expectations and intentions and other statements that are not historical facts,
including statements identified by words such as "outlook," "intends," "plans,"
"estimates," "believes," "expects," "potential," "continues," "may," "will,"
"should," "seeks," "approximately," "predicts," "anticipates," "foresees," or
the negative version of these words or other comparable expressions. All
statements addressing operating performance, events, or developments that the
Partnership expects or anticipates will occur in the future, including
statements relating to revenue growth and earnings or earnings per unit growth,
as well as statements expressing optimism or pessimism about future operating
results, are forward-looking statements. The forward-looking statements are
based upon the Partnership's current views and assumptions regarding future
events and operating performance and are inherently subject to significant
business, economic and competitive uncertainties and contingencies and changes
in circumstances, many of which are beyond the Partnership's control. The
statements in this press release are made as of the date of this press release,
even if subsequently made available by the Partnership on its website or
otherwise. The Partnership does not undertake any obligation to update or
revise these statements to reflect events or circumstances occurring after the
date of this press release.
Although the Partnership does not make forward-looking statements unless it
believes it has a reasonable basis for doing so, the Partnership cannot
guarantee their accuracy. Achieving the results described in these statements
involves a number of risks, uncertainties and other factors that could cause
actual results to differ materially, including the factors discussed in this
report and those described in the "Risk Factors" section of the Partnership's
Form 10-K filed on March 10, 2014 and Form 10-Q filed on November 7, 2014 with
the Securities and Exchange Commission as well as in the Partnership's other
filings with the Securities and Exchange Commission. No undue reliance should
be placed on any forward-looking statements.
###
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Lehigh Gas Partners LP via GlobeNewswire
[HUG#1895215]
Unternehmensinformation / Kurzprofil:
Datum: 17.02.2015 - 22:20 Uhr
Sprache: Deutsch
News-ID 372248
Anzahl Zeichen: 5459
contact information:
Town:
Allentown
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 125 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"CrossAmerica Partners LP: Announces the Closing of the Acquisition of Erickson Oil Products, Inc"
steht unter der journalistisch-redaktionellen Verantwortung von
Lehigh Gas Partners LP (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
