Couche-Tard acquires Southeast store chain

摘要

Canadian c-store chain Alimentation Couche-Tard has signed a deal to acquire 83 outlets in the St. Louis market from Spirit Energy LLC, which does business under the Convenient Food Mart name. The sites fly the Shell flag, and will continue to do so, the chain says. Alimentation Couche-Tard acquired the chain through its U.S. subsidiary, Mac's Convenience Stores. The transaction should add approximately $430 million/yr (U.S.) to the company's revenues and is expected to close in July, 2008 subject to regulatory approvals. Couche-Tard says it will fund the purchase through internal cash dollars. Of the stores, 69 operate under the Convenient Food Mart banner and are all company operated. Those stores will be switched to Couche-Tard's Circle K logo. The remaining 14 are operated by dealers. The transaction calls for Couche-Tard to buy the land and buildings for 15 locations and assume or enter into leases for the remaining locations.