68 Circle K stores on the selling block
Alimentation Couche-Tard Inc. is selling nearly 70 stores, with the greatest concentrations in the states of Indiana and Ohio.
The Canada-based convenience-store giant has hired advisory firm NRC Realty & Capital to coordinate and manage the marketing and sale of 68 Circle K sites across 21 states in the United States. The stores up for sale average 2,300 sq. ft., with an average lot size of 23,000 sq. ft.
Of the sites, 37 are fee-owned and 31 are leased, while 42 properties sell fuel. The balance are convenience only. (This is NRC’s third sale for Circle K in the last three years.)
“We have some good sites in this offering which will be of interest to individual operators and smaller companies,” said Evan Gladstone, NRC’s executive managing director. “We have a few stores in California, Florida, and Texas as well larger groups in Indiana and Ohio.”
The stores are all being sold without fuel supply and without convenience store brand. The bid deadline has been set for November 16th. Interested parties may get store locations and additional information by going to the NRC website.
In April, Alimentation Couche-Tard reached an agreement to acquire 112 fuel and convenience stores to be carved out from Mapco Express Inc. (It was the company’s second acquisition in less than two months. In March, the company agreed to acquire Big Red Stores, which operates 45 fuel and convenience stores across Arkansas.)
Alimentation Couche-Tard is a global leader in convenience and fuel retail, operating in 25 countries and territories, with more than 14,400 stores, of which approximately 10,800 offer road transportation fuel. With its Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the U.S.
The company is also a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics as well as in Ireland.
NRC provides a full array of real estate and financial advisory services to the convenience store and petroleum industries in North America.