Couche-Tard closes acquisition of European assets
2024-01-03 16:38 ET - News Release
Mr. Brian Hannasch reports
ALIMENTATION COUCHE-TARD ANNOUNCES THE CLOSING OF THE ACQUISITION OF CERTAIN EUROPEAN RETAIL ASSETS FROM TOTALENERGIES
Alimentation Couche-Tard Inc. has completed the acquisition of certain European retail assets from TotalEnergies. As previously announced on March 16, 2023, this acquisition includes 100 per cent of TotalEnergies' retail assets in Germany and the Netherlands, as well as a 60-per-cent controlling interest in the entities in Belgium and Luxembourg. The retail assets encompass 2,175 sites, with 1,191 located in Germany, 562 in Belgium, 378 in the Netherlands and 44 in Luxembourg. The majority are company owned (69 per cent) with the balance being dealer owned (31 per cent).
The transaction was financed using the corporation's available cash, U.S. commercial paper program and term loans.
"With this acquisition, we are entering four new countries and significantly expanding our reach in Europe. We are very excited to welcome these new team members and stores into the Couche-Tard family and are confident that they are a great fit with our company and culture," said Brian Hannasch, president and chief executive officer of Couche-Tard. "We have a proven track record of successful integrations and have already identified local talent to lead in each country. We look forward to our journey of growing together as we bring lasting value to our customers, business and shareholders."
About Alimentation Couche-Tard Inc.
Alimentation Couche-Tard is a global leader in convenience and mobility, operating in 29 countries and territories, with more than 16,700 stores, of which almost 13,100 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 Special Administrative Region of People's Republic of China and has recently expanded to Belgium, Germany, Luxembourg and the Netherlands. More than 150,000 people are employed throughout its network.
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