Crossamerica Partners (CAPL) has released an update.
The Partnership has made a strategic move by signing the Applegreen Purchase Agreement to acquire assets from Applegreen Midwest and Florida, ending existing leases for 59 locations at a cost of $16.9 million plus inventory. The deal, expected to close in the first half of 2024, allows lease extensions up to 2049 and includes standard legal provisions. This acquisition, complying with financial regulations, signals a significant expansion for the Partnership in these regions.
For further insights into CAPL stock, check out TipRanks’ Stock Analysis page.