LAVAL, QC, June 28, 2017 /PRNewswire/ - As announced yesterday, Alimentation Couche-Tard Inc. ("Couche‑Tard") (TSX: ATD.A/ATD.B) is pleased to confirm the closing as of today, June 28, 2017, of the acquisition of CST Brands, Inc. ("CST") and its transaction with Parkland Fuel Corporation ("Parkland") (TSX: PKI).
As a result of these transactions, Couche-Tard significantly adds to its store network in the U.S. and Canada, with close to 1,300 stores, including 666 locations in Texas, for a total of close to 9,500 stores in North America.
"It is a great day for our investors, our employees and, above all, for our customers. CST is the fourth-largest network of convenience stores and fuel retailing in North America. This transaction is the biggest in Couche-Tard's history and will strengthen our footprint in the United States, especially in Texas and the Southeast region, as well as in Canada (Québec, Atlantic provinces and Ontario), which brings our total store count in North America to close to 9,500 and close to 14,000 worldwide," announced Brian Hannasch, President and CEO of Couche-Tard.
"In CST, we acquire a company with strategic value that will efficiently complement our network. We bring in great new locations as well as expertise and experience which are likely to allow us to venture into new opportunities. Furthermore, we are proud to welcome aboard 14,000 new employees who will all become part of our journey to become the world's preferred destination for convenience and fuel," added Brian Hannasch.
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 retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic States (Estonia, Latvia and Lithuania) and in Ireland with an important presence in Poland.
As of January 29, 2017, adjusted to include the acquisition of CST Brands, Inc., Couche-Tard's network comprised of close to 9,500 convenience stores throughout North America, including 7,567 stores with road transportation fuel dispensing. Its North American network consists of 16 business units, including 12 in the United States covering 42 states and 4 in Canada covering all 10 provinces. Approximately 94,000 people are employed throughout its network and at its service offices in North America.
In Europe, Couche-Tard operates a broad retail network across Scandinavia, Ireland, Poland, the Baltics states and Russia through ten business units. As of January 29, 2017, Couche-Tard's network comprised of 2,766 stores, the majority of which offer road transportation fuel and convenience products while the others are unmanned automated fuel sites which only offer road transportation fuel. Couche-Tard also offers other products, including stationary energy, marine fuel, aviation fuel, lubricants and chemicals. Including employees at its branded franchise stores, approximately 25,000 people work in its retail network, terminals and service offices across Europe.
In addition, under licensing agreements, close to 1,700 stores are operated under the Circle K banner in 13 other countries and territories worldwide (Cambodia, China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, Mongolia, New Zealand, the Philippines, Saudi Arabia, the United Arab Emirates and Vietnam), which brings the total network to close to 14,000 stores.
For more information on Alimentation Couche-Tard Inc., 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.