CHARLOTTE, N.C., Sept. 8, 2021 /PRNewswire/ -- Express Wash
Operations, LLC, d/b/a Magnolia Wash Holdings ("Magnolia"), a premium express conveyor car
wash operator headquartered in Charlotte,
NC successfully completed the acquisition of 16 locations
across four separate transactions on Friday,
September 3rd, 2021. These included the
acquisition of locations from RipTide Car Wash, Pirates Cove Car
Wash, Whatta Wash, and Splash-N-Dash in the North Carolina, South Carolina, and Virginia markets.
These acquisitions bring Magnolia to 35 operating express car wash
locations in Florida, Georgia, North
Carolina, South Carolina,
and Virginia. Magnolia continues to execute against its
strategy of creating regional density in the rapidly growing
Southeastern U.S. and operates multiple local brands across its
markets. The Company has eight additional locations under
construction, with an extensive multi-year greenfield pipeline in
development. Magnolia was founded
by Frank Bennett and Brooks Moye in 2014 and remains
entrepreneurially oriented despite its experienced, professional
leadership team.
"We are proud to have met the objectives of these sellers and
are excited to welcome our new teammates to the Magnolia family," stated Kyle Poyer, Chief Financial Officer of
Magnolia. "The addition of these
locations adds density to our North
Carolina operations and provides scale ahead of in-process
greenfield developments in Upstate South Carolina and Eastern Virginia."
"We continue to seek growth and acquisition opportunities,
prioritizing best-in-class sites, as well as greenfield
developments within our region," commented Forrest Peters, VP of Development and
Integration at Magnolia. "We
believe our commitment to customer service, a premium consumer
experience, and our employees will continue to make Magnolia an attractive acquisition partner for
other operators in the market," added Andy
Agostini, Magnolia's VP of
Operations.
Magnolia Wash Holdings is actively pursuing acquisition and
development opportunities in both existing and new markets across
the Southeast. Please contact Kyle Poyer
Frank Bennet (678.467.9582) or Brooks Moye (919.427.5379) regarding inquiries
about growth opportunities with Magnolia.
About Magnolia Wash Holdings:
Magnolia Wash Holdings operates 35 express car washes in the
Southeastern U.S. under a family of brands. With locations
stretching from Florida to
Virginia, Magnolia is focused on building upon its
established market position in the Southeast. Magnolia prides itself on delivering consumers
and teammates a premium on-premise experience, including its
Unlimited Fast Pass Membership Program, free towels, free vacuums,
and free mat washing stations. The Company was founded by
Frank Bennett and Brooks Moye in 2014 and is headquartered in
Charlotte, North Carolina.
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SOURCE Magnolia