When did Aplus complete the acquisition of refined product terminals from Zenith Energy?

According to Aplus's 2024 Franchise Disclosure Document, on May 1, 2023, Aplus completed the acquisition of 16 refined product terminals from Zenith Energy. These terminals are located across the East Coast and Midwest. The purchase price for this acquisition was approximately $111 million, including working capital, and was primarily allocated to property and equipment.

Additionally, Aplus announced on January 11, 2024, that it would acquire liquid fuels terminals in Amsterdam, Netherlands, and Bantry Bay, Ireland, from Zenith Energy for €170 million, including working capital. This transaction was expected to close in the first quarter of 2024 but the document does not state if the transaction was completed.

For a prospective franchisee, this indicates Aplus's ongoing strategy of expanding its infrastructure and market presence through acquisitions. The acquisitions of refined product terminals can enhance Aplus's supply chain and distribution capabilities, potentially leading to more efficient operations and better service for franchisees. However, the success of these acquisitions and their integration into Aplus's existing network will be crucial for realizing these benefits.