Alimentation Couche-Tard Inc. announces closing date of the acquisition of Holiday
Dec 15, 2017, 17:17 ET
LAVAL, QC, Dec. 15, 2017 /CNW Telbec/ - Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD.A ATD.B) announces that it has obtained clearance from the U.S. Federal Trade Commission ("FTC") to acquire all of the issued and outstanding equity interest of Holiday Stationstores, Inc. and certain affiliated companies ("Holiday"). Closing is expected to occur on December 22, 2017.
Holiday's main assets consist of 522 company-operated and franchise locations in 10 U.S. states, two food commissaries, and a fuel terminal. Holiday, a privately owned company, is an important player in the U.S. Midwest region, and has top quartile convenience and fuel volumes under the Holiday brand.
"We are very excited to announce this new addition to the Couche-Tard family," says Brian Hannasch, President and CEO of Couche-Tard. "The Holiday assets are a strong strategic fit for our business and expands the Corporation's reach to 48 of the 50 U.S. states. Adding the Holiday stores, commissaries and fuel terminal as well as its highly successful programs and employees pushes us further in our journey to become the world's preferred destination for convenience and fuel."
Agreement to sell assets in the United States:
Following the review by the FTC of the acquisition of Holiday and in compliance with regulatory requirements, Couche-Tard has agreed to sell ten sites, including one Holiday site and nine CrossAmerica Partners LP (NYSE: CAPL) sites, to a buyer or buyers approved by the FTC within 120 days after the Decision and Order is issued. Until completion of the divestitures in accordance with the U.S. consent decree, the sites will be operated in the ordinary course of business by Couche-Tard.
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 the number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic countries (Estonia, Latvia and Lithuania), and in Ireland and also with an important presence in Poland.
As of October 15, 2017, Couche-Tard's network comprised 9,465 convenience stores throughout North America, including 8,135 stores with road transportation fuel dispensing. Its North American network consists of 18 business units, including 14 in the United States covering 41 states and 4 in Canada covering all 10 provinces. Approximately 95,000 people are employed throughout its network and at its service offices in North America. In addition, through CrossAmerica Partners LP, Couche-Tard supplies road transportation fuel under various brands to more than 1,200 locations in the United States.
In Europe, Couche-Tard operates a broad retail network across Scandinavia, Ireland, Poland, the Baltics and Russia through ten business units. As of October 15, 2017, Couche-Tard's network comprised 2,750 stores, the majority of which offer road transportation fuel and convenience products while the others are unmanned automated fuel stations which only offer road transportation fuel. Couche-Tard also offers other products, including stationary energy, marine fuel, aviation fuel and chemicals. Including employees at branded franchise stores, approximately 25,000 people work in its retail network, terminals and service offices across Europe.
In addition, under licensing agreements, more than 1,800 stores are operated under the Circle K banner in 14 other countries and territories (China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, Saudi Arabia, the United Arab Emirates and Vietnam), which brings the worldwide total network to more than 15,200 stores.
For more information on Alimentation Couche-Tard Inc. or to consult its quarterly Consolidated Financial Statements and Management Discussion and Analysis, please visit: http://corpo.couche-tard.com.
The statements set forth in this press release, which describe 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 "will", "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 nature, 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 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, 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 documents 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 press release is based on information available as of the date of the release.
SOURCE Alimentation Couche-Tard Inc.
For further information: Investor Relations: Claude Tessier, Chief Financial Officer, Tel: (450) 662-6632, ext. 4407, [email protected]; Media Relations: Marie-Noëlle Cano, Senior Director, Global Communications, Tel: (450) 662-6632, ext. 4611, [email protected]
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