Flagstop Car Wash acquires 2 sites and assumes lease of 1 site from rival, Green Clean Express Auto Wash.
Market Significance
Despite their expansion plans primarily focusing on the construction of new builds, Flagstop Car Wash had sought out an opportunity to, not only solidify their footprint in Richmond, but also hinder surrounding competition through their acquisition of 3 Green Clean locations. President and CEO of Flagstop Car Wash, Jamie Nester, gave his thoughts on the matter: “It fits well with our model being from Richmond and looking to continue to grow and expand and give our attention to the Richmond market.”
Flagstop Car Wash is well underway towards its goal of operating 25 sites by the end of 2025 with a current location count of 19 washes after this transaction. Nester has noted that they are currently in discussions of constructing of 6 additional car wash sites, in and around the Richmond market.
