Alimentation Couche-Tard closes acquisition of certain European retail assets from TotalEnergies
The retail assets encompass 2,175 sites.
January 4, 2024 | By MRO Magazine
Alimentation Couche-Tard Inc. has completed the acquisition of certain European retail assets from TotalEnergies.
As previously announced on March 16, 2023, this acquisition includes 100 per cent of TotalEnergies’ retail assets in Germany and the Netherlands, as well as a 60 per cent controlling interest in the entities in Belgium and Luxembourg.
The retail assets encompass 2,175 sites, with 1,191 located in Germany, 562 in Belgium, 378 in the Netherlands, and 44 in Luxembourg. The majority are company-owned (69 per cent) with the balance being dealer-owned (31 per cent).
The transaction was financed using the corporation’s available cash, US Commercial Paper program, and term loans.
“With this acquisition, we are entering four new countries and significantly expanding our reach in Europe. We are very excited to welcome these new team members and stores into the Couche-Tard family and are confident that they are a great fit with our company and culture” said Brian Hannasch, President and CEO of Couche-Tard. “We have a proven track record of successful integrations and have already identified local talent to lead in each country. We look forward to our journey of growing together as we bring lasting value to our customers, business, and shareholders.”
With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics and Ireland.
