LAVAL, QC, July 30, 2021 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Couche-Tard" or the "Corporation") (TSX: ATD.A) (TSX: ATD.B) announced today that a binding agreement has been entered into in connection with the acquisition of Cape D'Or Holdings Limited, Barrington Terminals Limited and other related holding entities, which operate an independent convenience store and fuel network in Atlantic Canada under the Esso, Wilsons Gas Stops and Go! Store brands ("Wilsons").
The Wilsons network comprises high quality locations operating in all four Atlantic Canada provinces and includes 79 corporate-owned and operated convenience retail and fuel locations, 147 dealer locations (of which two are corporately owned), and a marine fuel terminal in Halifax, Nova Scotia.
Couche-Tard intends to acquire the Wilsons network with some assets to be purchased by a third-party acquisition partner to be determined following a review of the proposed transaction by the Canadian Competition Bureau.
The transaction is expected to close in the first half of the 2022 calendar year and is subject to customary closing conditions and regulatory approvals, including under the Competition Act. The transaction will be financed using the Corporation's available cash and / or existing credit facilities.
"The transaction is a great fit for Couche-Tard and will allow us to continue to build on our geographic expansion strategy through the addition of complementary sites while bringing added value to our team members and customers in Atlantic Canada. We are committed to purchasing strong sites with capabilities both inside the stores and on the forecourts to further our organic growth platforms and showcase Couche-Tard's industry leading commitment to innovation and customer service, and we clearly see that potential in the Go! Stores and Wilsons' assets and its dedicated employees," said Brian Hannasch, President and Chief Executive Officer of Alimentation Couche-Tard.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and fuel retail, operating in 26 countries and territories, with more than 14,200 stores, of which approximately 10,800 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is the largest independent convenience store operator in terms of the number of company-operated stores 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. Approximately 124,000 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.
The statements set forth in this press release, which describes Couche-Tard's objectives, projections, estimates, expectations or forecasts, may constitute forward looking statements within the meaning of securities legislation. Positive or negative verbs such as "believe", "can", "shall", "intend", "expect", "estimate", "assume" and other related expressions are used to identify such statements. 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. Major factors that may lead to a material difference between Couche Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, uncertainty related to the duration and severity of the current COVID-19 pandemic, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in the reports filed by Couche-Tard with securities regulatory authorities in Canada. 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.