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 long-term prospects.
"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 & Retail AS.
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 Europe.
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 release.
SOURCE: Alimentation Couche-Tard Inc.
For further information:
Raymond Paré, Vice-President and Chief Financial Officer
Tel: (450) 662-6632 ext. 4607