In a prepared statement, Compass president and CEO Pete Iodice says the acquisition will be completed "within the early stages" of theAgreement. The stores are located off I-95 inKingsland, GA and Brunswick, GA and on Riverside Drive in Macon, GA.
Iodice tells GlobeSt.com the acquisition will bring Compass' total convenience store holdings to nine locations, most of them in the Athens area.
Compass expects each location to sell 150,000 gallonsof fuel per month. The company, which trades on theOTC Pink Sheets under the symbol CECP, anticipatesthe stores will add $7 million in revenue per year infuel sales and $1.8 million annually from in-storesales.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
