Major convenience store/gas station buyer emerges
Durham, North Carolina-based conglomerate The Guess Corp. is seeking to acquire at least 1,000 U.S. convenience store/ gas station units in the next 12 months.
Working through a subsidiary, the company is looking to acquire an average of 100 branded and unbranded units per month. Upon completion of the purchases, Guess Corp. intends to re-brand and renovate the properties with innovative and sleek designs and provide enhanced CRM technology. The company has invited brokers to provide buyer representation with higher commissions.
A minimum of five units in an area are required in order for the company to consider a purchase. In most instances, Guess Corp, says it will pay full asking price for the units as a package with payouts over a 30-day period, with close of transaction within in 72 hours. Units with or without real estate as part of the acquisition are being considered.
Guess Corp. began as a luxury goods company in 2012 with a focus on diamonds, and has since expanded into other business areas. In addition to the retail petroleum marketing operations, the company also facilitates bulk petroleum marketing as a wholesale distributor.
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