Canadian convenience-store giant Alimentation Couche-Tard has signed an agreement in principle to purchase a network of 12 stores from Bruce Miller Oil Company (ten fee-owned locations and two supply dealer accounts) in Southeastern Indiana and the Cincinnati Metro Area in Ohio.
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Quebec-based Couche-Tard is already the ninth-largest convenience retailer in the US, and the acquisition will thereby increase its presence in the US Midwest where it has been active in three states since acquiring Johnson Oil Co in June 2001.
It is currently present in Illinois, Indiana and Kentucky, with a 227-store network operating mainly under the Bigfoot banner. Scheduled to close by the end of April 2002, this transaction will extend Couche-Tard’s presence in Indiana and give it a foothold in the contiguous region of Western Ohio.
“We are pleased with this opportunity which allows us to further penetrate the US Midwest by acquiring a regional network with over 50 years of experience in the petroleum business,” said Alain Bouchard, chairman, president and CEO.
“Consistent with our strategy, we are pursuing our expansion in the US and remain on the lookout for any opportunity matching our growth objectives.”
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