CrossAmerica Partners LP

Formed in 2012, CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to approximately 1,750 locations and owns or leases approximately 1,100 sites. With a geographic footprint covering 34 states, it has relationships with several major oil brands, including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf, CITGO, Marathon and Phillips 66. Although 2023 was a dormant year in terms of acquisitions, 2024 saw significant activity, with CrossAmerica Partners LP and its Lehigh Gas Wholesale Services Inc. subsidiary entering into an agreement in late January to acquire 59 convenience stores from Applegreen Midwest and Applegreen Florida for $16.9 million, according to a filing with the U.S. Securities and Exchange Commission (SEC).

On Feb. 20, in connection with this acquisition, CrossAmerica entered into an amended 2019 bank credit agreement involving certain lease termination expenses. CrossAmerica will acquire the assets through termination of the partnership's existing lease agreements with Dublin, Ireland-based Applegreen at the acquired locations.

The Applegreen c-stores are in Michigan, Minnesota and Wisconsin and in Florida.

Across its network, the company's retail brands include Joe's Kwik Mart in Massachusetts, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee and Virginia; Hy-Miler Convenience in Ohio; Uni-Mart in Ohio and Pennsylvania; Rocky Top Market in Tennessee; Stop In Food Stores in Virginia and West Virginia; One Stop in West Virginia; and Zoomerz in Tennessee.

In late 2021, CrossAmerica acquired wholesale motor fuels distributor Community Service Stations Inc. (CSS), which supplies approximately 75 million gallons annually to locations across New England. The deal included wholesale fuel supply contracts to 39 dealer-owned locations, 34 subjobber accounts and two commission locations.

For benchmarking purposes, store counts are as of Jan. 1, 2024.