First Colombia to combine quick-service resto and c-stores

First Colombia Gold Corp., an energy exploration and production company, is consolidating its presence in the convenience market by purchasing quick-service restaurants and 11 convenience stores in Alabama.

The Memphis, Tennessee-based company announced last week that it is already in possession of the final purchase agreement to acquire 11 convenience stores in Alabama. The c-store purchase comes with the acquisition of Enterprise Partners, Inc., according to Yahoo Finance.

Moreover, part of the company’s long term strategy is to incorporate the convenience stores in the quick-service restaurants it purchased in April.

First Colombia acquired Triangle Restaurant Group along with its brands including Pete's Hot Dogs, Captain Cooks Sub Shops, Hum Dinger Burgers and Shakes, and Maryland Fried Chicken, reported CSP Daily News.

Jason Castenir, CEO of First Colombia Gold Corp. said, “We have identified at least four of these convenience store locations where we plan to open and operate our own quick serve restaurant concept."

“These first four locations are prime targets for the operation of our Maryland Fried Chicken franchises, and with these multiple revenue streams in place, we should be able to expand operations quickly," added Pete Iodice, president of Triangle Restaurant Group.

The 11 convenience stores, which are already in operation, are generating USD 15 million in combined annual revenue and over one million in annual profits.

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