LAVAL, QC, Sept. 3, 2014 /CNW Telbec/ - Alimentation Couche-Tard Inc.
(TSX: ATD.A ATD.B) announces today that it has signed, through its
wholly-owned indirect subsidiary Statoil Fuel & Retail AS, an agreement
to sell its aviation fuel business to Air BP. The sale is done through
a share purchase agreement pursuant to which Air BP would acquire 100%
of all issued and outstanding shares of Statoil Fuel & Retail Aviation
AS ("SFR Aviation").
The deal, which is subject to standard regulatory approvals and closing
conditions, is expected to be completed by the end of 2014. In
addition, the Parties have agreed not to disclose the purchase price
for this acquisition at this time.
SFR Aviation supplies aviation fuel products to airliners, general
aviation, military and bulk customers in nine countries across Northern
Europe. SFR Aviation employees will remain employed by the same legal
entity as before the sale of the shares.
Air BP is one of the world's largest suppliers of aviation fuel products
and services. This acquisition complements Air BP's existing presence
in the region and will allow them to expand in this growing market with
"The change of ownership assures the robustness of the business for the
future and, in turn, creates exciting new opportunities for our
employees," says Jonas Palm, EVP Special Products, Statoil Fuel &
About Alimentation Couche-Tard Inc.
Couche-Tard is the leader in the Canadian convenience store industry. In
the United States, it is the largest independent convenience store
operator in terms of number of company-operated stores. In Europe,
Couche-Tard is a leader in convenience store and road transportation
fuel in Scandinavian and Baltic countries while it has a significant
presence in Poland.
As of July 20, 2014, Couche-Tard's network comprised 6,243 convenience
stores throughout North America, including 4,478 stores with road
transportation fuel dispensing. Its North-American network consists of
13 business units, including nine in the United States covering 40
states and four in Canada covering all ten provinces. More than 60,000
people are employed throughout its network and at the service offices
in North America.
In Europe, Couche-Tard operates a broad retail network across
Scandinavia (Norway, Sweden, Denmark), Poland, the Baltics (Estonia,
Latvia, Lithuania) and Russia, which comprised 2,250 stores as at July
20, 2014, the majority of which offer road transportation fuel and
convenience products while the others are unmanned automated
service-stations which offer road transportation fuel only. The
Corporation also offers other products, including stationary energy,
marine fuel, aviation fuel, lubricants and chemicals. Couche-Tard
operates key fuel terminals and fuel depots in eight countries.
Including employees at Statoil branded franchise stations, about 17,500
people work in its retail network, terminals and service offices across
In addition, under licensing agreements, about 4,600 stores are operated
under the Circle K banner in 12 other countries worldwide (China, Guam,
Honduras, Hong Kong, Indonesia, Japan, Macau, Malaysia, Mexico, the
Philippines, Vietnam and the United Arab Emirates) which brings to more
than 13,000 the number of sites in Couche-Tard's network.
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 "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
SOURCE: Alimentation Couche-Tard Inc.
For further information:
Raymond Paré, Vice-President and Chief Financial Officer
Tel: (450) 662-6632 ext. 4607