Alimentation Couche-Tard

Alimentation Couche-Tard Inc. is expanding its U.S. portfolio yet again.   In its biggest acquisition to date, the Canadian convenience store retailer has agreed to buy CST Brands Inc. for $48.53 per share in cash, with the total deal valued at $4.4 billion, including debt.   Couche-Tard operates more than 12,000 locations globally under several brands, including Circle K. Last year, Couche-Tard acquired The Pantry for about $1.7 billion, including debt, adding more than 1,500 stores to its U.S. footprint.

Alimentation Couche-Tard Inc. is reportedly nearing a deal that would increase the ongoing consolidation in the convenience-store industry.   The Canadian convenience-store giant is in the lead to acquire CST Brands Inc., the Wall Street Journal reported.   CST, based in San Antonio, Texas, is a fuel and convenience-store chain with more than 1,000 stores in the southwestern U.S., New York and eastern Canada.   

The term “post-department store era” was once considered so controversial that many in the retail world avoided using it, fearing backlash from powerful industry giants like Macy’s and Sears. Some saw the very idea of department store obsolescence as pure folly while others saw it only as a vague possibility too far in the future to consider.
 

Convenience store chain CST Brands has addedtwo new independent directors to its board and announced it plans to pursue “strategic alternatives” that could include selling the company.

The company says the strategic review process will be comprehensive and will include a fresh look at several of CST's previously announced strategic initiatives and plans.

Toys“R”Us has promoted its senior vice president of store operations to a global leadership role.

Toys “R” Us has promoted its senior VP of store operations to a global leadership role.

Alimentation Couche-Tard Inc. has appointed Claude Tessier as its CFO, effective Jan. 28. The leader in the Canadian convenience store industry, Couche-Tard is the largest independent convenience store operator in the United States terms of number of company-operated stores.

The industry veteran joins Couche-Tard from Canadian grocer Sobeys Inc., where he was president of the IGA Operations Business Unit.

Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-sq.-ft. convenience and fuel center.

Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-square-foot convenience and fuel center. "The convenience store market in San Antonio has become increasingly competitive over the past few years, made even more so with local CST Brands agressive expansion plans," the business journal reported.

CST Brands is not a household name in the retail industry, but it is fast becoming one. The company has ambitious plans to grow through new store construction and acquisitions and just made several key executive moves to help make things happen.