Canadian convenience store operator Alimentation Couche-Tard has announced that it has signed an agreement to purchase 19 stores in the Augusta region of Georgia, US from QVS and Brosious & Holt Properties.
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Couche-Tard said that if the deal closes as expected at the end of March 2005, the acquisition would add sales of approximately US$60m to Couche-Tard’s revenues and contribute to its earnings on an annualised basis. The purchase price was not disclosed.
The 19 convenience stores currently operate under the Pump N Shop banner, 14 of which are branded with Shell motor fuel with the remaining five under the Spirit banner. Couche-Tard plans to buy the land and buildings for 14 of these locations, and would lease the other five.
“Strategically, this acquisition would be an excellent fit with our current network in metropolitan Augusta and would nicely compliment our expansion and growth plans in the southeast division of the US,” said Robert Campau, vice president of operations for the company’s southeast division.
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