Guess seeks to acquire convenience store/gas station
Guess Corporation, through a subsidiary, is seeking to acquire at least 1,000 convenience store/gas station units over the next 12 months.
The company is looking to acquire an average of 100 units per month which may include branded and unbranded units. Upon completion of the purchases, the company intends to re-brand and renovate the properties with innovative and sleek designs and provide enhanced customer relationship management technology. The company has invited brokers to provide buyer representation with higher commissions to ensure the acquisition program is completed in a timely fashion.
A minimum of 5 units in an area are required in order for the company to consider a purchase. In most instances, the company will pay full asking price for the units as a package with payouts over a 30-day period. The company offers sellers a fast due diligence and closing process and is able to close a transaction within in 72 hours. Units with or without real estate as part of the acquisition are being considered. The company is considering opportunities throughout the United States. In addition to the retail petroleum marketing operations, the company also facilitates bulk petroleum marketing as a wholesale distributor.
Source: Company Press Release