Canadian convenience store operator Couche-Tard has struck a deal to buy a total of 360 convenience stores and forecourts from ExxonMobil and Shell Canada.
Couche-Tard said yesterday (13 June) that it has purchased 322 retail sites in the western US from ExxonMobil.
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While financial terms of the deal were not disclosed, Couche-Tard said it would be funded through cash on hand and its existing bank credit facility.
The new sites will be transferred to Couche-Tard’s Circle K banner.
“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.”
The company also announced its Mac’s Convenience Stores unit has acquired 12 stores in Canada and had agreed to acquire 26 further stores in the US mid-atlantic region from Shell Canada.
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