M&A Deal Summary

CrossAmerica Acquires Express Lane - 45 Fuel Sites

On December 24, 2012, CrossAmerica acquired retailer Express Lane - 45 Fuel Sites from Express Lane

Acquisition Highlights
  • This is CrossAmerica’s 3rd transaction in the Retail sector.
  • This is CrossAmerica’s 3rd transaction in the United States.
  • This is CrossAmerica’s 1st transaction in Florida.

M&A Deal Summary
Date 2012-12-24
Target Express Lane - 45 Fuel Sites
Sector Retail
Buyer(s) CrossAmerica
Sellers(s) Express Lane
Deal Type Divestiture

Target

Express Lane - 45 Fuel Sites

Lynn Haven, Florida, United States
Express Lane - 45 Fuel Sites are concentrated in the Tallahassee/Panama City metropolitan area and along the Interstate 10 corridor of the "panhandle" region located in northwest Florida. Seven of the sites are fee simple interests and 38 are leasehold interests. Forty-three of the 45 sites sell motor fuel, of which 41 sites sell branded motor fuel, including 25 Chevron sites and 16 ExxonMobil sites. Two sites sell unbranded motor fuel. The remaining two sites are real estate acquisitions. The motor fuel volume for the 43 sites totaled more than 42 million gallons in 2011.

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Buyer(S) 1

Buyer

CrossAmerica

Allentown, Pennsylvania, United States
Category Company
Founded 1992
Sector Energy Services and Equipment
Employees548
Revenue 4.4B USD (2023)
DESCRIPTION

CrossAmerica is a provider of motor fuels, consisting of gasoline and diesel fuel. CrossAmerica was incorporated in 1992 and is headquartered in Allentown, Pennsylvania.

DEAL STATS #
Overall 3 of 13
Sector (Retail) 3 of 12
Type (Divestiture) 1 of 8
State (Florida) 1 of 1
Country (United States) 3 of 13
Year (2012) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-24 Jojo Oil

Dunmore, Pennsylvania, United States

Jojo Oil Co. Inc. operates petrol pumps and convenience stores and retails heating oil, propane, and unbranded motor fuels.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-01 Rocky Top - 30 Motor Fuel Stations

Knoxville, Tennessee, United States

Rocky Top - 30 Motor Fuel Stations are located in and around the Knoxville, TN region and along Interstate 40 and 75. In aggregate, including the assumed third party supply contracts, the total portfolio sold 34.1 million gallons of motor fuel in 2012.

Buy $37M

Seller(S) 1

SELLER

Express Lane

Lynn Haven, Florida, United States
Category Company
Sector Retail
DESCRIPTION

Express Lane, Inc. is a operator of various convenience stores in the United States. Company engages in the retail sale of motor fuels, as well as the operation of quick service restaurants.

DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
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