Pantry shareholders give OK to merger with Alimentation Couche-Tard

Cary, N.C. -- The Pantry moved one step closer to its merger with Canada’s Alimentation Couche-Tard as Pantry stockholders approved the merger agreement at a special meeting on March 10.



The stockholders cast 19,725,407 votes for the deal and 71,442 votes against the deal, with 34,806 abstaining, according to documents The Pantry filed with the U.S. Securities & Exchange Commission (SEC).



On Dec. 18, 2014, The Pantry entered into merger agreement with Couche-Tard U.S. Inc. and CT-US Acquisition Corp., with The Pantry surviving as a wholly owned subsidiary of Couche-Tard. The $1.7-billion blockbuster transaction remains subject to customary closing conditions, including the receipt of necessary governmental and regulatory approvals, with its waiting period under the U.S. Hart-Scott-Rodino Act scheduled to expire on March 12, 2015.



The Pantry is one of the largest independently operated convenience store chains in the country. As of January 29, 2015, it operated 1,509 stores in thirteen states under select banners, including its primary brand Kangaroo Express.



Couche-Tard, based in Laval, Quebec, operates more than 6,300 convenience stores throughout North America. Its North American network consists of 13 business units, including nine in the United States (under the Circle K brand) 40 states and four in Canada (under the Mac's and Couche-Tard brands) covering all 10 provinces.