Coach America Partly Bought by StageCoach Group
By: Leon Castles
on Monday, May 21, 2012
Dallas based Coach America has made an announcement that the company has been partly bought by Scottish bus company, StageCoach Group Plc. Sharing more about the deal, StageCoach said that they were interested in buying the company partially and that they have now completed the deal for $134.2 million. The company said that their acquisition deal includes businesses that Coach America has in Texas and California. The company also said that they will also look out for the expansion of MegaBus which is the Chicago based bus network that StageCoach Group provides in the city.
Brian Souter, CEO of StageCoach said that they are quickly trying to expand in North America and with this deal they will be able to expand their business in selected regions and cities. The company will offer vehicles at attractive prices in the market and business. The CEO also said that the acquisition of Texas and California will help them to get the best locations that they want to improve the growth of the company in North America. The company said that they already cover more than 80 key locations in the United States but the acquisition of Texas and California will be the best deal that can accelerate the performance of the company. The company also revealed that now that they have more locations they will buy 85 more buses that will cost them $25.6 million.