Couche-Tard Buys 322 Sites

Purchase allows Circle K stores to expand in the Southern California market.

Alimentation Couche-Tard Inc. is increasing its footprint in Southern California by acquiring up to 322 convenience-store sites plus an additional 65-reseller contracts from ExxonMobil Corp., the Wall Street Journal reported.

While the purchase price was not disclosed, Couche-Tard said it plans to pay for the assets with available cash and bank facilities. The stores are noted to be high volume, high impact locations.

All of the 387 locations would continue to offer Mobil branded motor fuel, and would continue to take the ExxonMobil credit card. The 72 company-operated sites would be operated under the Circle K brand and the entire network would be part of Couche-Tard’s West Coast Division network. The 250 dealer-operated locations would continue to be operated by current dealers, Couche-Tard told The Wall Street Journal.

Once the deal is completed, it will boost Couche-Tard’s network in the Circle K West Coast Division to 228 company-operated and 315 dealer or reseller-operated sites.

 

 

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