ATD.A, ATD.B / TSX
LAVAL, QC, Feb. 2 /CNW Telbec/ - Alimentation Couche-Tard Inc. announces
that it has signed, through one of its subsidiary, an agreement to acquire 13
stores in the Province of Québec from Exploitation Quali-T Inc. which is part
of Group Therrien. The transaction is subject to standard closing conditions.
Pétro-T will retain ownership of the properties and Couche-Tard would lease
the properties at market value for the next 40 years, and buy the store
equipment and inventories by using internal available cash dollars. According
to a confidentiality agreement between the parties, the purchase price cannot
be disclosed at this time.
The 13 stores are operated by Exploitation Quali-T under the Pétro-T
brand. All sites sell motor fuel under either the Pétro-T or Esso brands. Four
sites have quick service restaurants (2 A&W and 2 Subway) and three have
car-wash services. Pursuant to the agreement, the stores will be operated
under the Couche-Tard(R) brand and the motor fuel brands will remain
unchanged. It is expected that the average store earnings before interest and
taxes would be aligned with Couche-Tard's company operated store performance.
"These 13 stores are located on highly visible and well-traveled roads
and occupy strategic locations within their respective trade areas.
Strategically, this acquisition is an excellent fit with our network and
complement our expansion and growth plans for the Eastern Canada Division,"
indicated Michel Bernard, Vice-President Operations, Eastern Canada.
Alimentation Couche-Tard Inc. is the leader in the Canadian convenience
store industry. In North America, Couche-Tard is the second largest
independent convenience store operator (whether integrated with a petroleum
company or not) in terms of number of stores. Couche-Tard currently operates a
network of 5,416 convenience stores, 3,574 of which include motor fuel
dispensing, located in 11 large geographic markets, including eight in the
United States covering 33 states and three in Canada covering ten provinces.
More than 46,000 people are employed throughout Couche-Tard's retail
convenience network and service centers.
The statements set for the 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 "plan", "evaluate",
"estimate", "believe", "expect" and other related expressions are used to
identify such statements. Couche-Tard would like to point out that, by their
very natures, forward-looking statements involve risks and uncertainties such
that its results, or the measures it adopts, could differ materially from
those indicated or underlying these statements, or could have an impact on the
degree of realization of a particular projections. 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, 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 authorities
in Canada and the United States. 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.
For further information:
For further information: Raymond Paré, Vice-President and Chief
Financial Officer; Michel Bernard, Vice-President Operations, Eastern Canada,
(450) 662-3272, firstname.lastname@example.org; www.couche-tard.com