Auction to sell convenience store sites expected to interest private equity firms, as well as c-store operators. Valero Energy Corp. is selling its retail business, which is comprised of nearly 1,000 U.S. stores and some 775 units in Canada. The stores are being divested through an auction that could bring in more than $3.5 billion [...]
While merchandise sales are up, the tobacco category remains a challenge, says chief executive of Couche-Tard. Canadian convenience store operator Alimentation Couche-Tard Inc.’s adjusted quarterly profit is up, boosted in part by recent acquisitions, stronger merchandise sales and higher fuel margins, Reuters reported. Net earnings for the company fell, however, due to one-time costs associated [...]
Under a unique partnership with Couche-Tard, Mid-Atlantic Convenience Stores is now the exclusive developer of the Circle K brand across the mid-Atlantic. By Erin Rigik, Associate Editor. Mid-Atlantic Convenience Stores (MACS) and Alimentation Couche-Tard forged a new partnership in July where MACS will act as the exclusive developer for the Circle K brand in Virginia, [...]
Alimentation Couche-Tard adds 29 c-store locations to its portfolio from Florida Oil Holdings. Alimentation Couche-Tard Inc. signed an agreement to acquire 29 stores in Orlando, Fla., from Florida Oil Holdings LLC through Couche-Tard’s indirect wholly-owned subsidiary Circle K Stores Inc. The transaction is anticipated to close at the end of August, and is subject to [...]
Circle K creates a multi-year agreement with Lil’ Drug Store Products to extend its partnership. Circle K renewed its supply relationship with Lil’ Drug Store Products Inc., a global consumer product company in the Health and Beauty Care (HBC) section. Lil’ Drug Store Products revolutionized the health and beauty care sections for convenience and other [...]
Circle K focuses on evolving its sale of e-cigarettes through a partnership with NJOY. Circle K entered a partnership with NJOY electronic cigarettes for chain-wide corporate store distribution in 3,100 U.S. retail locations as of August 2012. Circle K has been an early leader in the e-cigarette category, and this new partnership further strengthens NJOY’s [...]
Alimentation Couche-Tard builds company-operated business in its West Coast Division as it plans to acquire a handful of Sun Mart stores. Alimentation Couche-Tard has signed an agreement to acquire 27 stores from Sun Pacific Energy in Eastern Washington State, mostly in the tri-city area of Pasco, Kennewick and Richland. The transaction is expected to close [...]
More Statoil shareholders accept Alimentation Couche-Tard’s tender offer as of Tuesday. Alimentation Couche-Tard reports 77.7% of Statoil Fuel & Retail shareholders have accepted its takeover offer, an increase from 66.7% three weeks ago, after a large shareholder agreed to bid on Tuesday. Alimentation Couche-Tard declined to identify the shareholder, but said it was “very confident” [...]
Alimentation Couche-Tard announces its offer to Statoil Fuel & Retail expires June 20. Alimentation Couche-Tard Inc. waived all conditions under its offer to Statoil Fuel & Retail, including but not limited to the 90% acceptance level as indcated in the offer document dated April 19. The new extension period will expire on June 20, and [...]
Alimentation Couhce-Tard’s offer to acquire all of the shares of Statoil Fuel & Retail for NOK 51.20 per share in cash now expires in early June. Alimentation Couche-Tard Inc. announced that its voluntary offer to acquire all of the issued shares of Norwegian-based Statoil Fuel & Retail has been extended and will expire at 5:30 [...]
Company waits longer for shareholder response Alimentation Couche-Tard agreed to extend its proposed expansion offer to Statoil Fuel’s until May 29. The $2.68 billion U.S. offer has the support of Statoil ASA, the oil company that owns 54% of the Scandanavian convenience store operations, gut Couche-Tard requires acceptance by 90% of Statoil Fuel’s shareholders. Canada’s [...]
Changes ahead for Sunoco with definitive merger agreement with Energy Transfer Partners Energy Transfer Partners, a Texas pipeline company, has received many calls about Sunoco’s gas stations since the merger was announced April 30, Martin Salinas Jr., the company’s chief financial officer, told analysts this May. Kelcy Warren, CEO of Energy Transfer Partners, bought Sunocoo [...]
Through a partnership with Crime Stoppers, criminals will have their photos posted to Facebook and Twitter where viewers can help identify them. By Erin Rigik, Associate Editor. Mac’s Convenience Stores, a division of Alimentation Couche-Tard, is leveraging the strengths of social media in conjunction with local Crime Stopper units to fight crime at its Canadian [...]
As their popularity soars in convenience stores, e-cigs are becoming the target of new smoking bans and tax regulations. By Erin Rigik, Associate Editor. Once speculated to be a passing fad, e-cigarettes are increasing in sales and popularity and pushing their way toward becoming a mainstream product. Celebrities from Leonardo DiCaprio to Britney Spears have [...]
New report shows c-stores have greatly benefited from the growth of the overall retail industry. Research and Markets has announced the addition of the “US Convenience Stores Forecast to 2014″ report to its offering. The U.S. convenience stores industry, one of the world’s largest and fastest growing sectors, presents lucrative investment opportunities for new players. [...]