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Prior Year Acquisitions
12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
Prior Year Acquisitions

Note 3. PRIOR YEAR ACQUISITIONS

 

Acquisition of Assets from CSS

On November 9, 2022, we closed on the acquisition of assets from CSS for a purchase price of $27.5 million plus working capital. The assets consisted of wholesale fuel supply contracts to 38 dealer owned locations, 35 sub-wholesaler accounts and two commission locations (1 fee based and 1 lease). We funded this acquisition through borrowings on the CAPL Credit Facility and cash on hand.

 

Acquisition of Assets from 7-Eleven

On a rolling basis from June 2021 through February 2022, we closed on the acquisition of assets from 7-Eleven for a purchase price of $263.0 million plus working capital. The assets acquired related to the ownership and operations of 106 company operated sites (90 fee; 16 leased). We will pay $1.8 million of purchase price on or prior to February 8, 2027. We funded this acquisition through borrowings on the CAPL Credit Facility and the JKM Credit Facility as well as cash on hand.