NEWS PCAI Identifies a Portfolio of Retail Branded and Unbranded Gasoline Stations
PALM BEACH GARDENS, FL--(Marketwire - 10/09/09) - Petroleum Consolidators of America, Inc. (Pinksheets:PCAI - News), a gasoline station/convenience store operator, announced today that the company has identified a portfolio of branded and unbranded retail gasoline stations/convenience stores.
David Cohen, President and CEO of Petroleum Consolidators, stated, "We are excited to have identified and begin exploring a possible acquisition of an eight store chain. Our initial review, which began in late September, has been limited to a stringent analysis of the preliminary financials and our proprietary comparative pricing model of the acquisition."
Additionally, Cohen stated, "We like the various elements of the transaction, but most importantly, there is not a long-term fuel supply agreement in place, and based on gross gallonage, this could enable us to become a direct fuel supplier for a major brand if we were to close on this transaction."
About Petroleum Consolidators of America
Petroleum Consolidators of America, Inc. is a gasoline station/convenience store operator which is implementing a targeted acquisition strategy to create a portfolio of consolidated retail gasoline facilities and wholesale fuel distributorships that will benefit from substantial operating efficiencies.
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