Quick Stats

Quick Stats

    Poll

    Poll

    The Guess Corp. recently announced plans to open member-only convenience stores catering to the ultra-affluent. Do you think this is a viable concept?

    You are here

    Petroleum Consolidators to Acquire Florida BP Station

    The station is a first in a series of planned acquisitions, according to company CEO.

    WEST PALM BEACH, Fla. -- Petroleum Consolidators of America, Inc. announced it has formally entered into a Letter of Intent with an independent owner to acquire a BP branded gas station located in Charlotte County, Fla., according to an Associated Press report.

    "As a result of efforts to meet the goals of our business plan, we are moving forward to acquire this BP operation as the first in a series of planned acquisitions," said David Cohen, president and CEO of Petroleum Consolidators. "Based on our market research and due diligence to-date, we are confident that this first acquisition will generate $4.5 million in annual revenue and approximately $275,000 in gross income."

    He continued: "The underlying real estate will provide us with a tangible asset which will lead to an increase in book value. This closing is subject to a land appraisal, Phase One environmental study, plus a successful review and verification of all required due diligence items."

    Petroleum Consolidators of America, Inc. is a development stage company focusing on land acquisition, ownership and operations of a portfolio of retail gasoline stations. The businesses being acquired will include convenience stores that offer a broad selection of merchandise and ancillary products and services including car care products, tobacco, beer, soft drinks, self-service fast food and beverages, publications, dairy products, groceries, health and beauty aids, money orders and other services, the report stated.

    • About

    Related Content

    Related Content