CrossAmerica Partners and Applegreen close agreement
Applegreen will now operate 46 sites in the Upper Midwest as CrossAmerica Partners exits retail operations.
CrossAmerica Partners LP announced that it has closed on the previously announced agreement with Applegreen plc for the global roadside convenience retailer to operate 46 company operated retail sites in the U.S. Upper Midwest.
“This is a significant milestone to simplify our business focusing on our strengths, and expanding our collaboration with a world class convenience retail operator to continue to deliver value to our customers and unitholders,” said Gerardo Valencia, CEO and President of CrossAmerica.
As part of this agreement, CrossAmerica will retain the sites and has entered into a master fuel supply and master lease contracts with Applegreen. With the completion of this transaction, CrossAmerica will now be solely focused on its wholesale operations.
Applegreen is a convenience food and beverage retailer and operator of petrol forecourts and motorway service areas with a major presence in the Republic of Ireland, the United Kingdom and the US.
