On Friday, Alimentation Couche-Tard Inc. announced that it has entered into a definitive agreement with Irving Oil to acquire certain retail assets in Québec and Ontario. The transaction includes 50 retail sites already operated by Couche-Tard under the Québec Alliance between Irving Oil and Couche-Tard, as well as two retail sites in Pembroke and Cornwall in Ontario, already operated by Couche-Tard. It also covers fuel supply to 71 retail sites owned and operated by Couche-Tard in Québec. The assets include 18 cardlock sites, comprising 16 in Québec and two in Ontario. Of these, 16 are co-located with retail sites included in the transaction and two are adjacent to sites already owned and operated by Couche-Tard. Existing Irving Oil fleet customers will continue to be served at these locations under a long-term agreement between Couche-Tard and Irving Oil. The transaction is subject to customary closing conditions and regulatory approvals, including under the Competition Act. “This agreement builds on our longstanding relationship with Irving Oil and our experience operating these locations,” said Stéphane Trudel, Senior Vice President of Operations at Alimentation Couche-Tard. “These are markets and customers we know well. The transaction would support our continued investment in the everyday convenience experience we offer our customers.” A global leader in convenience and mobility, the Laval, Quebec-based Couche-Tard operates over 17,200 stores in 27 countries and territories.
Irving Oil Ltd., 10 King Square South, Saint John, New Brunswick E2L 0G3 (506/202-2000 www.irvingoil.com)
Alimentation Couche-Tard Inc., 4204 boul Industriel, Laval, Quebec H7L 0E3 (www.couche-tard.com)