Florida-based Capital Oil & Gas said its senior management has agreed to acquire and lease 16 retail locations, including retail gasoline stations that have convenience stores and fast-food operations.
The decisions jives with the company’s overall strategy to become a key retailer for consumer-related petroleum products, such as the “lucrative ancillary consumer services” found in convenience stores and fast-food operations.
The anticipated 16-outlet operation is expected to add to the company’s balance sheet on average gross revenues of $385,826.19 per location, per month.
“We are extremely pleased that our board of directors has finally realized that in this economy we have to grow or die,” said Ariel Rodriguez, president of Capital Oil and Gas. “We need to expand our operations either internally or externally and they have agreed on our growth plan of acquisitions and we are ready, willing and able to do so.”