July 13, 2017

Brandi Companies announced that it has reached an agreement with Applegreen PLC to acquire the trade and operations of Brandi Companies,a retail chain based in Columbia, South Carolina. Under the terms of the transaction,Applegreen will acquire the trade and operating assets of the Brandi Group and Getty Oil will acquire the real estate assets of the Brandi Companies. At completion of the transaction, which is expected to close in Q4 2017, Applegreen will enter into a long term agreement with Getty Oil to lease the real estate and will locate their southeastern headquarters in Lexington, S.C.

Brandi Companies is comprised of 42 sites located in the Midlands of South Carolina.Included in the sites are 34 Pitt Stop Convenience Stores which incorporate 11 Burger King Restaurants and a number of other food offerings including Subway and Blimpie. In addition, Brandi operates eight stand-alone Burger King sites.

The current owner, Bob Brandi, has committed to working with the existing management team to ensure an orderly transition of operations to Applegreen. The Brandi employees are all remaining in place and will be joined by a small integration team from Applegreen.

Chief operations officer of Applegreen, Joe Barrett, said: “We are delighted to announce our first major acquisition in the U.S. which represents a significant milestone for our business. We consider the Brandi Group to be an excellent fit for our business given the attraction and convenience of its locations centered in the city of Columbia, together with the significant component of food-to-go offers that exists within the estate. We believe that this acquisition represents an opportunity to establish a significant presence in this market while also providing the potential for us to leverage our retail experience in this sector to enhance the current offering. It also represents an ideal platform from which to further pursue our strategy for growth along the East Coast of the U.S.”

Bob Brandi commented: “After entertaining several suitors over the years, I am delighted to sell my Pitt Stop and Burger King business to Applegreen. Applegreen has the same business principles as Brandi Companies. Their commitment to continue our dedication to the employees and the local communities is what attracted me to this company. This acquisition will ensure the future strength and growth of the business I have built in the South Carolina market. I am committed to working with the existing management to ensure an orderly and successful transition of operations to Applegreen.”

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