LAVAL, QC, April 27, 2023 /PRNewswire/ – Alimentation Couche-Tard Inc. announced today it has reached an agreement to acquire 112 fuel and convenience retail sites to be carved out from MAPCO Express Inc.
The acquisition is contingent on a separate transaction whereby MAPCO and its remaining locations are sold to a third party.
The transaction includes a strong network of modern, high-quality, well-located sites in attractive and desirable markets predominantly in Tennessee and Alabama, but also in Kentucky and Georgia. All 112 sites are company-operated, and most of the real estate is owned. The transaction also includes surplus property and a logistics fleet.
The transaction is expected to close in the second half of calendar year 2023, subject to standard regulatory approvals and closing conditions, and will be financed using the Corporation’s available cash and/or existing credit facilities, including its U.S. Commercial Paper Program.
“We are delighted to add MAPCO’s high-quality sites to our footprint in the Southeastern U.S.,” said Alex Miller, Couche-Tard’s Chief Operating Officer. “As we continue to grow our presence in the region, we look forward to bringing the Circle K experience to new customers and making their lives a little easier every day.”
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and fuel retail, operating in 24 countries and territories, with more than 14,300 stores, of which approximately 10,900 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong Special Administrative Region of People’s Republic of China. Approximately 122,000 people are employed throughout its network.
For more information on Alimentation Couche-Tard Inc., or to consult its audited annual Consolidated Financial Statements, unaudited interim condensed consolidated financial statements and Management Discussion and Analysis, please visit: https://corpo.couche-tard.com.
