PA Acquisitions News – CrossAmerica Partners LP and CST Brands

new-name-slideAn Allentown company, CrossAmerica Partners LP and its partner CST Brands Inc have conjoined in an agreement for the purchase of Erickson Oil Products Inc. and specific related assets. CrossAmerica is a leader in wholesale distribution of motor fuels. This $85M deal will allow CrossAmerica to initially operate all of the Freedom Valu convenience stores, but is expected to transfer the operations over a period of time. Gary Vander Vorst, President of Erickson Oil feels that this acquisitions will promote Erickson’s growth and cause it to be more competitive. This opportunity has also opened new doors to new markets for CST and CrossAmerica. The transaction is scheduled to close in the first quarter of 2015.

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(Photos Courtesy of CrossAmericaPartners.com)

Chester County US1 – The Next Frontier

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According to the CCEDC (Chester County Economic Development Council) a new CCEDC-led taskforce has been created to facilitate new business along the US1 corridor from Kennett Square and traveling Southbound to the Maryland line. This is our backyard folks. We are excited and anticipating the opportunities this poses for the Southern Chester County business community, not to mention the Commercial Real Estate biz in our local region.

Representatives from a dozen municipalities have come together to brainstorm and create a “draw” to this specific area of the Greater Delaware Valley. Within the next ten years, they estimate 3 million sf of commercial real estate to be in the project development stages.

The foremost hurdle they must bound is targeting the issues that hinder new growth and interest. Pinpointing those ball-and-chains is paramount before moving forward with new marketing and splash about Chester County. Key infrastructure challenges include public transportation, sewer and water utilities, affordable housing, land planning and the overall approval process. Without a coordinated effort by all key parties, we lose countless opportunities to other states. Jobs and revenue cast away for naught. Agencies working together, efficiencies in executing new utility extensions honed and innovative implementations by the local leadership would all be integral portions of this new “plan” as I see it.

We do have positive attributes going for us. Large thriving companies have made their home here. They include:

  • Herrs Corporation
  • Dansko Corporation
  • Everfast
  • Dole Mushroom
  • Flowers Foods/Tasty Baking Oxford
  • Genesis Health Care
  • W.L. Gore & Associates, Inc.
  • Neuchatel Chocolates dba Confiseurs, Inc.
  • Leading Edge Composites, Inc.
  • Pollert Plastic Systems
  • Endo Pharmaceuticals

We look forward to new possibilities, challenges and successes for the Southern Chester County corridor and are very proud to be a part of the transformation of a new portal of flourishing business and industry.