You are here
BOYNTON BEACH, Fla. — On the Move will make a big move into Florida.
NAS Acquisition Inc. Thursday completed a share exchange agreement with the shareholders of Boynton Beach-based On the Move Corp., which was founded in 2014 to engage in the acquisition of convenience stores.
Now that this transaction is complete, On the Move Corp. will, subject to financing, acquire up to 50 c-stores in 2016 in the Sunshine State, most of which will be operated under the On the Move brand.
“We are very excited to bring the On the Move vision to the state of Florida,” said Jay Seewald, On the Move’s president and chief operating officer. “It is our mission to deliver a ‘good day sunshine’ experience 365 days a year to all of our customers.”
On the Move stores will offer fresh food offerings under its proprietary brand, as well as national chains such as Dunkin' Donuts, Subway, Godfathers Pizza and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; and other nonfood items. In addition, it will be involved in the retail sale of gasoline or gasohol on a self-service basis.
As for why On the Move favors the state of Florida, the company said it believes the Sunshine State offers one the best opportunities for growth and expansion during the next 10 years.
“Currently, the state of Florida consumes over 12 billion gallons of gas on an annual basis and grows by 1,000 new residents each day,” the company stated in a news release. “The principles of On the Move have owned and operated convenience stores in Florida for more than 20 years.”
As part of the share exchange agreement, the following officers and directors in addition to Seewald were appointed by the NAS board at closing: R.J. Reitano, chairman and CEO, and Russell Parker, executive vice president, chief business officer and director.
NAS Acquisition Inc. was founded in Nevada in 2014. It seeks out business opportunities with entities that have recently commenced operations, or wish to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes.