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Announced

Completed

Joe Topper completed the acquisition of Couche-Tard's stake in CrossAmerica Partners.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Oil Refining and Marketing

Public

Single Bidder

United States

Acquisition

Majority

Friendly

petroleum wholesaler

Completed

Synopsis

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Joe Topper, CrossAmerica Partners founder, completed the acquisition of Couche-Tard's stake in CrossAmerica Partners, a distributor of branded and unbranded petroleum for motor vehicles in the United States. Financial terms were not disclosed. “At this time, we anticipate maintaining our current distribution policy, distribution coverage and leverage ratio targets that have been outlined over the past few quarters. I am excited for the future of the Partnership. In the coming weeks and months, I and the management team look forward to sharing in more detail with our unitholders our strategy and goals for CrossAmerica,” Joe Topper, CrossAmerica newly appointed Chairman of the Board of Directors and General Partner.

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