By Adriano Marchese
Alimentation Couche Tard Inc. said Friday it agreed to acquire a convenience store and fuel network in Atlantic Canada from a number of related holding entities for an undisclosed sum.
The Canadian convenience-store operator said it entered into a binding agreement in connection with the acquisition of Cape D'Or Holdings Ltd., Barrington Terminals Ltd. and other related holding entities, which operate an independent convenience store and fuel network under the Esso, Wilsons Gas Stops and Go! Store brands.
The Wilsons network includes 79 corporate-owned and operated convenience retail and fuel locations, 147 dealer locations and a marine fuel terminal in Halifax, Nova Scotia.
Couche-Tard said some assets are expected to be purchased by a third-party acquisition partner, and that the transaction is expected to close in the first half of 2022.
"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," President and Chief Executive Brian Hannasch said.
Write to Adriano Marchese at email@example.com
(END) Dow Jones Newswires