M&A Deal Summary

CrossAmerica Acquires Atlas Oil Co - Wholesale Motor Fuel Supply Contracts & Motor Fuel Stations

On April 17, 2014, CrossAmerica acquired retailer Atlas Oil Co - Wholesale Motor Fuel Supply Contracts & Motor Fuel Stations from Atlas Oil for 50M USD

Acquisition Highlights
  • This is CrossAmerica’s 6th transaction in the Retail sector.
  • This is CrossAmerica’s 5th largest (disclosed) transaction.
  • This is CrossAmerica’s 6th transaction in the United States.

M&A Deal Summary
Date 2014-04-17
Target Atlas Oil Co - Wholesale Motor Fuel Supply Contracts & Motor Fuel Stations
Sector Retail
Buyer(s) CrossAmerica
Sellers(s) Atlas Oil
Deal Type Divestiture
Deal Value 50M USD

Target

Atlas Oil Co - Wholesale Motor Fuel Supply Contracts & Motor Fuel Stations

United States
Atlas Oil Co - Wholesale Motor Fuel Supply Contracts & Motor Fuel Stations are all located in the metro Chicago area and are all branded BP locations. The 55 wholesale supply contracts have a weighted average term remaining of approximately 15 years. The 11 fee or leasehold sites are all currently leased to third party commission agents.

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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 6 of 13
Sector (Retail) 6 of 12
Type (Divestiture) 4 of 8
Country (United States) 6 of 13
Year (2014) 1 of 5
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-07 Rogers Petroleum - 17 Motor Fuel Stations

Tennessee, United States

Rogers Petroleum - 17 Motor Fuel Stations are located in eastern Tennessee, with a concentration in the Tri-Cities region and along Interstate 81. The portfolio sold 18.7 million gallons of motor fuels in 2012. Thirteen of the sites are "Zoomerz" branded sites and the remaining four (4) sites are Exxon branded.

Buy $21M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Petroleum Marketers

Roanoke, Virginia, United States

Petroleum Marketers, Inc. operates two primary lines of business: convenience stores and petroleum products distribution. In its convenience store business, PMI operates 85 convenience stores and 9 co-located branded quick service restaurants located primarily along the Interstate 81 corridor in Virginia, with a concentration in the Roanoke, VA area. The petroleum products business distributes motor fuels and other petroleum products to customers throughout Virginia, West Virginia, Tennessee and North Carolina.

Buy $61M

Seller(S) 1

SELLER

Atlas Oil

Taylor, Michigan, United States
Category Company
Sector Transportation
DESCRIPTION

Atlas Oil is a national fuel supply, logistics and services company delivering comprehensive solutions to customers throughout the distribution lifecycle, from crude oil E & P companies to refineries to commercial end users nationwide.

DEAL STATS #
Overall 1 of 2
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-17 Hadi Group Distributors

Dearborn, Michigan, United States

Hadi Group Distributors, Inc. supplies and operates gas and fuel stations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-12 Atlas Oil - Retail Business

United States

Atlas Oil - Retail Business is a provider of retail fuel services.

Sell -
Mergr

Product

Company

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