Couche-Tard expands in U.S.
Montreal-based convenience store operator Alimentation Couche-Tard Monday announced it has bought 322 additional retail sites in the western U.S. from ExxonMobil.
Financial terms were not disclosed, but Couche-Tard said it would use cash on hand and bank credit to pay for the deal.
Couche-Tard is North America's largest independent operator of convenience stores, including 4,169 that dispense gasoline.
The additional sites will become part of Couche-Tard's Circle K network and will continue to sell Mobil-branded fuel.
"Subsequent to this transaction, our network in the Circle K west coast division would include a total of 228 company-operated, and 315 dealer or reseller-operated," said vice-president Tim Tourek,
"These stores are high volume, high impact locations. They would significantly strengthen our overall footprint in this important market."
Couche-Tard also announced its Mac's Convenience Stores division has acquired or will acquire a total of 38 locations in Canada and the United States.
It said Mac's has agreed to acquire 26 stores in the U.S. Mid-Atlantic region and has acquired 12 stores in Ontario, Manitoba, Saskatchewan and British Columbia from Shell Canada.
With files from The Canadian Press