LAVAL,
QC, Feb. 27, 2023 /PRNewswire/ - Alimentation
Couche-Tard Inc. ("Couche-Tard" or the "Corporation")
(TSX: ATD) announced today it is moving forward with a binding
agreement for the acquisition of 45 fuel and convenience retail
sites from Big Red Stores, a successful company originally founded
in 1997 by Doug and David Hendrix,
that has grown mainly organically by opening new sites over the
years.
The transaction includes modern, high-quality, and well-located
sites across the state of Arkansas. All 45 sites are company-owned,
company-operated sites of which real estate is owned for 44 sites
and leased for 1 site. Furthermore, the network predominately
features large format stores that have ample space for enhanced
foodservice and product offerings.
The transaction is expected to close in the first half of
calendar year 2023, subject to standard regulatory approvals and
closing conditions and will be financed using the Corporation's
available cash and / or existing credit facilities.
"We are very pleased to add Big Red Stores' high-quality
locations to our footprint in the state of Arkansas. Doug and David built an exceptional
network of stores and people, and we believe our values are
congruent with the culture they've spent a quarter-century
building. We are honored to be stewards of their legacy" said
Alex Miller, Couche-Tard's Chief
Operating Officer. "As we expand our presence in the area, we look
forward to bringing the Circle K experience to new customers and
making their lives a little easier every day."
About Alimentation Couche-Tard
Inc.
Couche-Tard is a global leader in convenience and fuel retail,
operating in 24 countries and territories, with more than 14,300
stores, of which approximately 10,900 offer road transportation
fuel. With its well-known Couche-Tard and Circle K banners, it is
one of the largest independent convenience store operators in
the United States and it is a
leader in the convenience store industry and road transportation
fuel retail in Canada,
Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in
Poland and Hong Kong SAR.
Approximately 122,000 people are employed throughout its
network.
For more information on Alimentation Couche-Tard Inc.
or to consult its annual Consolidated Financial Statements and
Management Discussion and Analysis, please visit:
https://corpo.couche-tard.com.
Forward-Looking Statements
Certain statements in this press release may constitute forward
looking statements within the meaning of securities legislation,
including those with respect to the potential transaction. Positive
or negative verbs such as "believe", "can", "shall", "intend",
"expect", "estimate", "assume" and other related expressions are
used to identify such statements. Such statements are based upon
the current beliefs and expectations of Couche-Tard and are subject
to significant risks and uncertainties outside of Couche-Tard's
control. Couche-Tard would like to point out that, by their very
nature, forward-looking statements involve risks and uncertainties
such that its results, or the measures it adopts, could differ
materially from those indicated in or underlying these statements,
or could have an impact on the degree of realization of a
particular projection. 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.
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SOURCE Alimentation Couche-Tard Inc.