ATD.A, ATD.B / TSX
LAVAL, QC, Jan. 12 /PRNewswire-FirstCall/ - Alimentation Couche-Tard Inc. announces that it has signed, through its subsidiary Circle K Stores Inc., an agreement to acquire eight stores in central North Carolina from Accel Marketing LLC which operates under the "Accel" banner. The transaction is anticipated to close in April 2010 and is subject to standard regulatory approvals and closing conditions. According to a confidentiality agreement between the parties the purchase price cannot be disclosed at this time. Internal available cash dollars will pay for the transaction.
All eight stores are company operated and offer proprietary motor fuel. The stores would be operated by the Circle K Southeast Division under the Circle K banner and would offer motor fuel under such brand. Pursuant to this transaction, the company would buy the land and buildings for all locations.
"These stores are highly visible and occupy strategic locations within their respective trade areas. They are large, modern, well built facilities that are well operated and have a strong management team in place. Strategically, this acquisition is a complement to our expansion and growth plans for the Southeast Division." indicated Matt McCure, Vice-President Operations, Southeast Division.
Alimentation Couche-Tard Inc. is the leader in the Canadian convenience store industry. In North America, Couche-Tard is the largest independent convenience store operator (whether integrated with a petroleum company or not) in terms of number of company-operated stores. Couche-Tard currently operates a network of 5,904 convenience stores, 4,128 of which include motor fuel dispensing, located in 11 large geographic markets, including eight in the United States covering 43 states and the District of Columbia, and three in Canada covering all ten provinces. More than 52,000 people are employed throughout Couche-Tard's retail convenience network and service centers.
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.