Couche-Tard Acquires 29 Stores In Illinois, Missouri And Oklahoma
LAVAL, QC, Dec. 10, 2012 /PRNewswire/ - Alimentation Couche-Tard Inc. (TSX: ATD.A ATD.B) announces today that it has signed, through its wholly-owned indirect subsidiary, Mac's Convenience Stores LLC, an agreement to acquire 29 stores, 25 stores are located in Illinois, three in Missouri and one in Oklahoma. The transaction is anticipated to close in December 2012. The transaction is subject to standard regulatory approvals and closing conditions. According to a confidentiality agreement between the parties, the purchase price cannot be disclosed. Available cash dollars will be used for the transaction.
All stores offer motor fuel branded Phillips 66. They would eventually be rebranded under the Circle K brand and continue to offer motor fuel under Phillips 66. Couche-Tard's Midwest division would operate 28 of them and the other one would be operated by the Southwest division. Two sites are equipped with car washes. Pursuant to this transaction, Couche-Tard would buy the land and buildings for 25 locations and would assume or enter into leases for the remaining locations.
In addition, pursuant to a related agreement, Couche-Tard would purchase the rights for the supply of 29 Wholesale stores located throughout the same geographic area.
"Subsequent to this transaction, our network in the Midwest division would include a total of 527 company operated-stores and 212 locations under wholesale or franchise agreements. These stores occupy strategic locations within their respective trade areas. Strategically, this acquisition would be a great addition to our expansion and growth plans for the Midwest division." commented Bruce Landini, Vice-President Operations, Midwest.About Alimentation Couche-Tard Inc. Couche-Tard is the leader in the Canadian convenience store industry. In North America, Couche-Tard is the largest independent convenience store operator (whether integrated with a petroleum corporation or not) in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel in Scandinavian countries and in the Baltic States while it has a growing presence in Poland. As of October 14, 2012, Couche-Tard's network comprises 6,172 convenience stores throughout North America, including 4,590 stores with road transportation fuel dispensing. Its North-American network consists of 13 business units, including nine in the United States covering 40 states and the District of Columbia and four in Canada covering all ten provinces. More than 60,000 people are employed throughout Couche-Tard's network and at its service offices in North America. Through its acquisition of Statoil Fuel & Retail, Couche-Tard operates a broad retail network across Scandinavia ( Norway, Sweden, Denmark), Poland, the Baltics ( Estonia, Latvia, Lithuania), and Russia with 2,301 stores as at September 30, 2012, the majority of which offer road transportation fuel and convenience products while the others are unmanned automated service-stations (road transportation fuel only). Couche-Tard also offers other products, including stationary energy, marine fuel, aviation fuel, lubricants and chemicals. It operates 12 key fuel terminals and 38 fuel depots in eight countries as well as approximately 400 road tankers. Including employees at Statoil branded franchise stations, about 18,500 people work in Couche-Tard's retail network, terminals and service offices across Europe. In addition, under licensing agreements, about 4,100 stores are operated under the Circle K banner in nine other countries ( China, Guam, Hong Kong, Indonesia, Japan, Macau, Mexico, Vietnam and United Arab Emirates). For more information on Alimentation Couche-Tard Inc., please visit: http://www.couchetard.com The statements set forth in this press release, which describes Couche-Tard's objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as "plan", "evaluate", "estimate", "believe", "expect" and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very natures, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projections. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in the reports filed by Couche-Tard with securities authorities in Canada and the United States. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release. SOURCE ALIMENTATION COUCHE-TARD INC.
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