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Slide #2. Lehigh Gas Partners LP — Petroleum Marketers, Inc.
Lehigh Gas Partners LP (LGP)
Petroleum Marketers, Inc.
Lehigh Gas Partners LP (NYSE:LGP) (the "Partnership") announced today that it acquired, effective April 30, 2014, Roanoke, VA based Petroleum Marketers, Inc. ("PMI" or the "Company") for net total consideration of $61 million.
CrossAmerica Partners LP is engaged in the distribution of motor fuels, consisting of gasoline and diesel fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuels. Co. operates from the wholesale distribution of motor fuels to retail sites and from real estate leases and, on a select basis, through the retail distribution of motor fuels at certain sites. As of Dec 31 2013, Co. distributed motor fuels to 812 sites and to 16 sub-wholesalers. Co.'s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee and Virginia. Co. also distributes motor fuel in Georgia.
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Strong Buy (3.50 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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