Carvana Auto Vending Houston

The first Auto Vending Machine in Texas has opened. Morris + Associates provided Carvana with extensive services for their Houston debut. M+A was responsible for the civil design and architectural site adaptation, as well as managing the coordination of the multiple disciplines (Mechanical, Electrical, Plumbing, Structural, and Landscaping) it took to develop a comprehensive set of construction documents. We effectively worked with the various authorities having jurisdiction (AHJ) which included the City of Houston, TxDot, Centerpoint, and AT&T to obtain a permit for construction. In addition to the design and construction documents phase, M+A provided extensive construction administration services for the client. The Carvana Auto Vending Machine at I-10 and Wilcrest is the first of its kind in Texas and opened December 2016.

Forbes ranked Carvana 5th on their list of America's Most Promising Companies in 2015. Carvana is an online used car dealer that sells, finances, and buys back used cars through their website. The tech start-up company was founded in 2013. Carvana is based in Phoenix, Arizona and is partnered with DriveTime. As of 2016 it has locations in Atlanta, Austin, Birmingham, Charlotte, Dallas, Houston, Jacksonville, Miami, Nashville, Orlando, Raleigh, San Antonio, Tampa, Richmond, Washington, D.C., and Columbus. The company delivers cars to customers anywhere in the country for an additional fee, or customers can pick up their car at on of the company's locations after completing the transaction online.

Many news outlets have been covering the opening of this project. For more information, follow the links below:

CST Brands, Inc. Announces Merger Agreement with Alimentation Couche-Tard Inc. in a $4.4 Billion Cash Merger Transaction

One of Morris + Associates' longstanding clients, CST Brands, Inc., announced in August that its Board of Directors unanimously approved a definitive merger agreement with Alimentation Couche-Tard Inc. (“Couche-Tard”), under which Couche-Tard will acquire all of the shares of CST for $48.53 per share in cash, representing a total enterprise value of approximately $4.4 billion, including the assumption of net debt.

The transaction value represents a premium of approximately 42 percent to CST’s closing stock price on March 3, 2016, the last date prior to CST announcing that its Board commenced an exploration of strategic alternatives to further enhance stockholder value. The transaction also represents a premium of approximately 61 percent since May 1, 2013, the last date prior to regular way trading of CST following the Company’s spin off.

Couche-Tard is a global leader in the convenience and fuel retail industry, with a strong Circle K brand across the U.S. Together, Couche-Tard and CST will join on the journey to become the world’s preferred destination for convenience and fuel.

“After the Board’s comprehensive review of strategic alternatives to enhance stockholder value, we are pleased to reach this agreement with Couche-Tard, which we expect to provide immediate and compelling value to our stockholders,” said Kim Lubel, Chairman, Chief Executive Officer and President of CST. “Our Board believes that Couche-Tard is an ideal partner for CST. With Couche-Tard, we will build upon an extensive and attractive convenience and fuel network with enhanced scale and global reach to best position the combined company for future growth. Importantly, our employees will benefit from new opportunities for career development as part of a larger, global company. We look forward to working closely with Couche-Tard to seamlessly complete the transaction and ensure a smooth integration.”

CST Brands, Inc. (NYSE: CST), a Fortune 500 Company, is one of the largest independent retailers of motor fuels and convenience merchandise in North America. Based in San Antonio, Texas, CST employs over 14,000 Team Members at over 2,000 locations throughout the Southwestern United States, Georgia, Florida, New York and Eastern Canada offering a broad array of convenience merchandise, beverages, snacks and prepared fresh food. In the U.S., Corner Stores, Nice N Easy Grocery Shoppes, and Flash Foods stores proudly sell a broad offering of branded and unbranded fuel and proprietary baked goods and fresh food, packaged private label products, U Force energy and sport drinks, Freestyle soft drinks and signature ICEE drinks. In Canada, CST is the exclusive provider of Ultramar fuel and its Dépanneur du Coin and Corner Stores sell signature Transit Café coffee, proprietary baked goods and fresh food and private label packaged goods. CST also owns the general partner of CrossAmerica Partners LP, a master limited partnership and wholesale distributor of fuels, based in Allentown, Pennsylvania. For more information about CST, please visit