You are here
FRANKLIN, Tenn. – Delek US Holdings, parent company of c-store chain MAPCO Express, has completed the $42 million acquisition of 40 Fast Petroleum stores throughout northwest Georgia and southeast Tennessee.
Delek is working to obtain necessary third party requests for the purchase of the last three convenience stores.
The 43 Fast Petroleum stores had total sales of approximately $111 million in 2005, and sold approximately 46 million gallons of fuel.
The acquisition was purchased with cash proceeds and MAPCO's revolving credit facility, which was increased from $70 million to $120 million.
"The successful purchase of these 40 convenience stores within 30 days of the signing of the definitive agreement reflects well on our ability to implement our acquisition strategies and enhances the reputation we have developed in our markets as a credible acquirer," said Uzi Yemin, president and CEO of Delek US Holdings.