Delek US Holdings (NYSE: DK) has completed the acquisition of 90 Favorite Markets retail fuel and convenience stores from Calfee Company of Dalton and others, for $57 million. Most of the stations are located in eastern Tennessee and northern Georgia, the company said.
Delek US, a subsidiary of Yitzhak Tshuva's Delek Group (TASE: DLEKG), carried out the transaction via its subsidiary MAPCO Express.
The company first announced the deal two months ago.
The company is presently completing the acquisition of 17 more stores from Calfee, subject to a final agreement with the seller. At this stage, MAPCO has entered a term sheet to operate the 17 outlets, which should cost about $8 million more.
Delek US projects that it can complete that deal during the present quarter.
Upon completion of that deal, Delek US will own more than 500 gas stations and convenience stores in the United States.