EzFill Signs Definitive Agreement for the Purchase of Yoshi Mobility’s Fuel Division
EzFill Holdings (NASDAQ: EZFL) has signed a definitive agreement to acquire Yoshi Mobility's fuel division, expanding operations to four new states: California, Tennessee, Texas, and Michigan. The deal, expected to close by December 2, 2024, will integrate Yoshi's assets, operations, and customers into EzFill's infrastructure. The company plans to add diesel fueling services to Yoshi's existing markets and implement an aggressive national expansion plan. As part of the agreement, Yoshi will become an EzFill shareholder. The acquisition aims to strengthen EzFill's position in the on-demand fueling sector and extend services to national customers in new markets.
EzFill Holdings (NASDAQ: EZFL) ha firmato un accordo definitivo per acquisire la divisione carburante di Yoshi Mobility, espandendo le operazioni in quattro nuovi stati: California, Tennessee, Texas e Michigan. L'accordo, previsto per essere concluso entro il 2 dicembre 2024, integrerà le attività, le operazioni e i clienti di Yoshi nell'infrastruttura di EzFill. L'azienda intende aggiungere servizi di rifornimento diesel ai mercati esistenti di Yoshi e implementare un piano di espansione nazionale aggressivo. Come parte dell'accordo, Yoshi diventerà un azionista di EzFill. L'acquisizione mira a rafforzare la posizione di EzFill nel settore del rifornimento su richiesta ed estendere i servizi ai clienti nazionali in nuovi mercati.
EzFill Holdings (NASDAQ: EZFL) ha firmado un acuerdo definitivo para adquirir la división de combustible de Yoshi Mobility, expandiendo las operaciones a cuatro nuevos estados: California, Tennessee, Texas y Michigan. Se espera que el acuerdo se cierre antes del 2 de diciembre de 2024 e integrará los activos, operaciones y clientes de Yoshi en la infraestructura de EzFill. La empresa planea añadir servicios de combustible diésel a los mercados existentes de Yoshi e implementar un agresivo plan de expansión nacional. Como parte del acuerdo, Yoshi se convertirá en accionista de EzFill. La adquisición tiene como objetivo fortalecer la posición de EzFill en el sector de combustible bajo demanda y extender los servicios a clientes nacionales en nuevos mercados.
EzFill Holdings (NASDAQ: EZFL)는 Yoshi Mobility의 연료 사업 부문을 인수하기 위한 최종 계약을 체결했습니다. 이를 통해 캘리포니아, 테네시, 텍사스 및 미시간의 4개 주로의 사업 확장이 이루어집니다. 이 거래는 2024년 12월 2일까지 마무리될 것으로 예상되며, Yoshi의 자산, 운영 및 고객이 EzFill의 인프라에 통합될 것입니다. EzFill은 Yoshi의 기존 시장에 디젤 연료 서비스를 추가하고 공격적인 국가적 확장 계획을 시행할 계획입니다. 계약의 일환으로 Yoshi는 EzFill의 주주가 됩니다. 이 인수는 EzFill이 주문형 연료 공급 분야에서의 입지를 강화하고, 새로운 시장에서의 국가 고객에게 서비스를 확장하는 것을 목표로 합니다.
EzFill Holdings (NASDAQ: EZFL) a signé un accord définitif pour acquérir la division carburant de Yoshi Mobility, étendant ainsi ses opérations à quatre nouveaux États : Californie, Tennessee, Texas et Michigan. La conclusion de l'accord est attendue d'ici le 2 décembre 2024 et intégrera les actifs, opérations et clients de Yoshi dans l'infrastructure d'EzFill. L'entreprise prévoit d'ajouter des services de carburant diesel aux marchés existants de Yoshi et de mettre en œuvre un plan d'expansion nationale agressif. Dans le cadre de l'accord, Yoshi deviendra actionnaire d'EzFill. Cette acquisition vise à renforcer la position d'EzFill dans le secteur du ravitaillement à la demande et à étendre les services aux clients nationaux sur de nouveaux marchés.
EzFill Holdings (NASDAQ: EZFL) hat eine endgültige Vereinbarung zur Übernahme der Treibstoffsparte von Yoshi Mobility unterzeichnet, um die Geschäftstätigkeit auf vier neue Bundesstaaten auszudehnen: Kalifornien, Tennessee, Texas und Michigan. Der Deal wird voraussichtlich bis zum 2. Dezember 2024 abgeschlossen und wird die Vermögenswerte, Betriebe und Kunden von Yoshi in die Infrastruktur von EzFill integrieren. Das Unternehmen plant, Diesel-Treibstoffdienste in den bestehenden Märkten von Yoshi hinzuzufügen und einen aggressiven nationalen Expansionsplan umzusetzen. Im Rahmen des Vertrags wird Yoshi ein Aktionär von EzFill. Die Übernahme soll die Position von EzFill im Bereich der bedarfsorientierten Treibstoffversorgung stärken und die Dienstleistungen an nationale Kunden in neuen Märkten erweitern.
- Expansion into four major new state markets
- Acquisition of existing customer base and operational assets
- Addition of diesel fueling services to increase revenue
- Strategic partnership with Yoshi, backed by major investors like GM Ventures and ExxonMobil
- None.
Insights
This strategic acquisition marks a significant expansion for EzFill, transforming it from a regional to a multi-state operator. The deal brings immediate value through entry into four major markets - California, Tennessee, Texas and Michigan - along with Yoshi's established customer base and operational infrastructure. The transaction structure, which includes Yoshi becoming shareholders, aligns interests and reduces cash requirements.
The addition of diesel services to Yoshi's existing markets presents an immediate revenue growth opportunity. The backing of Yoshi by major strategic investors like General Motors Ventures, ExxonMobil and Bridgestone Americas validates the business model and provides potential strategic partnership opportunities. For a company with a
The on-demand fuel delivery market is experiencing rapid growth, driven by increasing consumer demand for convenience services. This acquisition positions EzFill to capitalize on this trend across multiple major metropolitan areas. The expansion into four new states, particularly California and Texas, represents access to some of the largest vehicle markets in the US.
The timing aligns with shifting consumer behaviors toward on-demand services, similar to the evolution seen in grocery and package delivery. The strategic focus on both consumer and fleet customers, combined with the addition of diesel services, creates multiple revenue streams. However, success will depend on efficient scaling of operations and maintaining service quality across a significantly larger geographical footprint.
Agreement Expands EzFill’s Operations to Four New States
Deal Expected to Close December 2
MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings Inc. (NASDAQ: EZFL), a leading mobile fueling company, has signed a definitive agreement to acquire the fueling division of Yoshi, Inc. with the aim of expanding its U.S operations and presence.
Under the terms of the agreement, EzFill will acquire Yoshi Mobility’s existing mobile fuel service assets and allows EzFill to begin operations in four new states: California, Tennessee, Texas, and Michigan. EzFill will integrate Yoshi’s assets, operations and customers into its growing infrastructure. With this acquisition, EzFill plans to not only strengthen the company’s footprint in its existing markets but also take advantage of EzFill’s national customers and begin offering services to them in those markets. EzFill will immediately add diesel fueling to the services currently offered by Yoshi in those markets which the Company believes will immediately increase revenues in those areas. Additionally, EzFill hopes to initiate an aggressive national expansion plan, positioning itself as a leading player in the on-demand fueling sector.
Based in Nashville, Tennessee, Yoshi Mobility is a major mobility services provider backed by strategic investors such as General Motors Ventures, ExxonMobil, and Bridgestone Americas. These investments have played a pivotal role in establishing Yoshi Mobility as a trailblazer in the mobile fueling industry. As part of the Agreement Yoshi will become shareholders in EzFill.
“Since day one, we envisioned EzFill as a national leader in mobile fueling. With our strong foundation in Florida, now is the perfect time to scale our operations into additional states and this agreement represents a transformational step in that journey,” said EzFill CEO Yehuda Levy. “Just as people expect on-demand services for groceries and packages, they now seek convenience and efficiency in fueling their vehicles. This acquisition allows EzFill to meet that demand head-on. Yoshi’s excellent team and loyal customer base provide an incredible platform to help us accelerate our expansion and deliver industry-leading fueling services nationwide.”
CEO and Co-Founder of Yoshi Mobility, Bryan Frist said, “Fuel delivery has been part of Yoshi since our early days. As we shift our focus towards solving growing pain points for our fleet customers, including mobile EV charging and virtual vehicle inspections, we’re pleased to transition this part of the business to a terrific partner and leader in the industry. It’s a true win-win for both companies and most importantly, for our customers.”
The acquisition reflects EzFill’s ongoing commitment to providing convenient, cost-effective, and environmentally friendly mobile fueling solutions for consumers and businesses.
The definitive agreement contains customary closing conditions and is expected to close by December 2, 2024.
About EzFill
EzFill is a Miami-based on-demand mobile fueling service that provides fuel delivery directly to consumers and businesses, eliminating the need for traditional gas stations. As one of the largest mobile fuel delivery platforms in the United States, EzFill focuses on convenience, safety, and efficiency for its users. Visit us at ezfl.com.
About Yoshi Mobility
Yoshi Mobility is a tech-enabled mobility services provider. The company has completed millions of vehicle services through its network of certified mobile technicians who provide both on-site and virtual services including EV charging, virtual inspections, and preventative maintenance. To date, Yoshi Mobility has raised more than
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FAQ
What states will EzFill (EZFL) expand to through the Yoshi Mobility acquisition?
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