ATD.A, ATD.B / TSX
LAVAL, QC, and FAIRFAX, VA, April 28 /CNW Telbec/ - Alimentation
Couche-Tard Inc. and Exxon Mobil Corporation (XOM) announced today that
Couche-Tard has agreed to acquire ExxonMobil's On the Run convenience store
franchise system in the United States and 43 of its company owned and operated
sites in the Phoenix, Arizona market area. The transaction is anticipated to
close in late May and is subject to standard closing conditions and regulatory
The agreement transfers to Couche-Tard the franchise agreements for
approximately 450 On the Run convenience stores currently operated by
ExxonMobil branded fuel dealers and distributors. These stores, located in 28
states primarily east of the Mississippi River, would continue to be operated
by the franchisee dealers and distributors of ExxonMobil.
"ExxonMobil values the tremendous commitment of its On the Run
franchisees in helping to build one of the leading convenience store brands in
the industry," said Ben Soraci, ExxonMobil's Director of U.S. Retail Sales.
"We recognize the outstanding quality of ExxonMobil On the Run
franchisees and we are excited to welcome them to the Couche-Tard family",
said Alain Bouchard, Couche-Tard's President and CEO.
Also under the agreement, Couche-Tard will acquire the land and buildings
for 33 locations and will assume or enter into leases for the remaining ten
locations. The 43 Phoenix sites will be converted to Circle K branded
convenience stores, offering Circle K branded fuel.
"The Phoenix sites are highly visible, located on well-traveled roads,
and occupy prime locations within their respective trade areas," said Geoff
Haxel, Couche-Tard's Vice-President, Operations, Arizona. "Strategically, this
acquisition is an excellent fit with our network and complements our expansion
and growth plans for the Arizona Division."
The purchase price is confidential between the parties. Couche-Tard will
fund the acquisition from internal available cash dollars.
Profile of Alimentation Couche-Tard
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 has a
network of 5,444 convenience stores, 3,607 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.
ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to find better, safer and cleaner ways
to provide energy to support development and improved living standards around
the world. ExxonMobil holds an industry-leading inventory of resources, is the
largest refiner and marketer of petroleum products and its chemical company is
one of the world's largest.
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: Media: Alimentation Couche-Tard Inc.: Raymond
Paré, Vice-President and Chief Financial Officer, (450) 662-3272; Brian
Hannasch, Senior Vice-President, U.S. Operations, (812) 379-9227 (ext.-1500);
Investor.email@example.com; www.couche-tard.com; ExxonMobil: Kristen
Hellmer, Public Affairs Media Contact, (703) 846-4467; www.exxonmobil.com