CST To Buy Flash Foods Store Network Of Convenience Stores In Georgia, Florida

(RTTNews) - CST Brands, Inc. (CST), a fuel and convenience retailer, said it had entered into a definitive agreement to acquire the Flash Foods store network of convenience stores in Georgia and Florida from the Jones Company and its affiliates. The purchase price for the transaction is $425 million.

The company expects the transaction to be accretive. It is anticipated to close in the first quarter of 2016.

The acquisition includes 164 Flash Foods convenience stores selling Flash Foods-branded fuel located in Georgia and Florida, the sites distributed over 290 million gallons for the twelve month period ending June 30, 2015, 21 branded Quick Service Restaurants, including three standalone locations as well as a land bank of 13 real estate sites to build new-to-industry stores.

The deal also includes a merchandise distribution company and a 90,000 square foot distribution center that it operates in Georgia, as well as a fuel supply company with access to the Colonial and Plantation Pipelines.