Couche-Tard, the Canadian convenience store chain, is to acquire 15 stores in Illinois through its subsidiary Mac’s Convenience Stores.
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The stores, acquired from Speedway Super America, will be bought for an undisclosed sum.
The 15 convenience stores operate under the Speedway banner but will be converted to the Marathon fuel brand and operated by Couche-Tard’s Circle K Midwest Division under the Circle K banner.
“Subsequent to this transaction, our network in the Circle K Midwest Division would include a total of 354 company operated stores,” said Darrell Davis, vice president of operations for Midwest Division. “Strategically, this acquisition is an excellent fit with our network and complement our expansion and growth plans for the Midwest Division.”
Pursuant to this transaction, the company would buy the land and buildings for 14 locations and would assume the third-party lease for the fifteenth location.
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By GlobalDataThe transaction is anticipated to close in April and is subject to standard regulatory approvals and closing conditions.
