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HIALEAH, Fla. -- In what marks a summer of high activity, Capital Oil & Gas Inc. entered negotiations to acquire or lease 11 full-service gas and convenience store stations in Florida.
"As previously stated, it is the intent of executive management to control either by acquisitions or leases enough stations to generate a minimum of $100 million per year in revenue, with a potential pre-tax profit margin of 8 percent to 12 percent per year overall," said president and COO, Ariel Rodriguez in a released statement.
As reported yesterday in a CSNews Online news flash, if the deal is finalized, Rodriquez said the additional 11 stations could add revenues of approximately $55 to $60 million per year in gross revenues to its ongoing operations and revenue stream. A call to Capital Oil & Gas was not returned by press time.
"The company believes it would then be in a position to become a fully reporting company and leverage its buying power from its suppliers," Rodriguez said.