Billboard Insider confirmed over the weekend that Lamar Advertising has purchased all the assets of Stott Outdoor based in Chico California.  Insider understands the transaction closed on Wednesday of last week.

This was absolutely a great acquisition for Lamar. It now gives Lamar a true Northern California presence, including inventory and an office location, which they’ve desired for some time. Here is a map of the Stott locations.

As to numbers and types of structures, here is that detail from Stott’s website.

Johnsen, Fretty & Co. were the exclusive advisors to Stott Outdoor in the transaction.  Here is a comment from Steve Fretty,

Stott developed a terrific set of assets in attractive markets under the helm of Jim Moravec and his team. As a result, the opportunity garnered strong interest from the buyer community. Market conditions remain very robust.

No financial details on the transaction  as Lamar typically keeps transactions under an NDA,  Should have the information at their next quarterly release. You might remember that in our February conversation with Jim Moravec, long time CEO at Stott, Jim indicated he would be reducing some of his day to day duties at the Company. Also at that time, Korbe Palmer was announced as the new General Manager for Stott Outdoor. Just prior to coming to Stott, Korbe was the Lamar GM of their Seattle market.

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