Applegreen eyeing up more US targets

Applegreen eyeing up more US targets
Applegreen Clonmel.

By Geoff Percival

Irish forecourt retailer Applegreen is targeting further US growth opportunities after signing a long-term agreement to lease 43 petrol filling stations in Florida.

The deal, with property lessor CrossAmerica Partners, significantly expands Applegreen’s operations in the US, and boosts its filling station numbers there to 114.

A spokesperson for the company said the company is considering further acquisition opportunities and views the US as becoming a substantial market for the brand.

The company will also look to continue growing here and in the UK, where it has opened 14 service stations since the start of this year and now operates more than 100.

The leasing deal with CrossAmerica Partners, which is due to complete before the end of September, follows Applegreen buying 42 filling stations in South Carolina from the Brandi Group last year.

In a trading update coinciding with its AGM in Dublin, the company, whose shares were marginally up yesterday, said trading has been up, on a like-for-like basis, since the start of the year. However, it said the harsh weather seen earlier in the year and rising fuel prices have impacted business.

“Applegreen had a positive start to the 2018 financial year with trading results continuing to improve on the prior year.

The severe weather in March, however, affected business across all our markets but particularly in Ireland, while recent international fuel price increases have adversely impacted on fuel margins,” said chairman Daniel Kitchen.


More in this Section

Up to 9,000 jobs to be slashed from Emirates due to coronavirusUp to 9,000 jobs to be slashed from Emirates due to coronavirus

Ireland faces second mortgage arrears crisis when payment breaks end this autumn, leading financial advisers warnIreland faces second mortgage arrears crisis when payment breaks end this autumn, leading financial advisers warn

EU's Michel proposes €5bn Brexit emergency fund that may help IrelandEU's Michel proposes €5bn Brexit emergency fund that may help Ireland

Pressure builds on Donohoe after UK cut Vat to boost pubs and restaurants in Covid-19 stormPressure builds on Donohoe after UK cut Vat to boost pubs and restaurants in Covid-19 storm


Lifestyle

Dr Martin Coyne, a GP based in Donegal, takes Catherine Shanahan through one of his work daysWorking Life: Dr Martin Coyne, GP, Co Donegal

A Spielberg classic, a host of Premier League ties and Romesh Ranganathan in the Sahara are among this weekend's top picksWeekend TV Highlights: Premier League action, The Voice Kids, and Romesh Ranganathan

Contents from two Cork houses at Woodward's auction, says Des O'SullivanOnline sale with socially distant viewing at Woodward's

Des O'Sullivan previews Fonsie Mealy's timed online collector's saleCork silhouettes, a massacre and a landmark of Irish printing

More From The Irish Examiner