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Murphy USA buying New Jersey-based QuickChek and its 157 stores

Murphy USA announced Monday an agreement to acquire QuickChek Corporation in an all-cash transaction for $645 million. The purchase price includes expected tax benefits valued at $20 million for a net after-tax purchase price of $625 million. The transaction will be financed with a combination of cash on hand, existing credit facilities and new debt, and El Dorado-based Murphy USA has obtained committed financing from the Royal Bank of Canada. A statement from Murphy USA said that QuickChek represents a truly distinctive business in a class shared by only a few comparable industry peers. Founded in 1967 as an extension of Durling Farms, a door-to-door milk and fresh dairy products delivery service that originally opened in 1888, it is a family-owned chain of 157 stores located in central and northern New Jersey and the New York metro area.

Murphy USA to Buy QuickChek for USD 645 Million Cash

Posted on 3708 Murphy USA has reported an agreement to acquire QuickChek Corporation in an all cash transaction for USD 645 Million.  The price includes expected tax benefits that is valued at USD 20 Million for a net after tax purchase value of USD 625 Million.  The transaction is expected to be financed with cash on hand, new debt and existing credit facilities.  Murphy USA has obtained committed financing from the Royal Bank of Canada.  “In October we outlined an updated capital allocation strategy and committed to improving our food and beverage offer at existing and future sites,” said Murphy USA President and CEO Andrew Clyde. “This transaction greatly accelerates those efforts and benefits, and is expected to provide reverse synergies across our network, while enhancing future returns on new stores. The transaction is also expected to create direct synergies that leverage our enterprise scale and our dis

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