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Couche-Tard to buy 21 stores, 151 dealer sites in U.S.


Laval, Canada - Alimentation Couche-Tard Inc. is purchasing 21 stores, 151 dealer fuel supply agreements and five development properties through its Circle K Stores Inc. subsidiary from Cinco J Inc. The 21 stores and development properties are located in Texas, while the 151 dealer fuel supply agreements are located in the Texas, Mississippi and Louisiana.

The transaction is anticipated to close by July 19, 2015, and is subject to standard regulatory approvals and closing conditions. The parties have signed a confidentiality agreement precluding the parties from disclosing the purchase price for this acquisition at this time. Available cash dollars will pay for the transaction.

These convenience stores operate under the store brands "The Tote" and "Tiger Tote.” Couche-Tard plans on buying the land and buildings for 18 locations and would assume or enter into a lease for the three remaining locations. Following the acquisition, all of the stores would be operated under the Circle K brand by Couche-Tard's Southwest Division.

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