Couche-Tard Acquires 16 Stores in New Mexico
LAVAL, Canada -- Alimentation Couche-Tard Inc. has through its subsidiary, Circle K Stores Inc., signed an agreement with Conway Oil Co. and the Conway Real Estate Co. to purchase 16 stores in New Mexico by December. The acquisition is predicted to add sales of about $66 million to Couche-Tard’s revenues.
The agreement is for 16 convenience stores currently operated under the Winners banner with either Shell or Chevron motor fuel and located in or close to Alburquerque, N.M. Couche-Tard will buy the land and buildings for 10 of the locations and lease the other six. Due to a confidentiality agreement between the parties, the purchase price cannot be revealed.
“We are pleased with this opportunity, which allows us to complement the network expansion plans in the West Coast Division,” said Brian Hannasch, senior vice president for western North America. “We selected the stores based on prime locations, potential for growth and quality of people. These new sites will contribute to improve the profitability of the division. After this transaction, our network in the West Coast Division will include 286 stores.
The agreement is for 16 convenience stores currently operated under the Winners banner with either Shell or Chevron motor fuel and located in or close to Alburquerque, N.M. Couche-Tard will buy the land and buildings for 10 of the locations and lease the other six. Due to a confidentiality agreement between the parties, the purchase price cannot be revealed.
“We are pleased with this opportunity, which allows us to complement the network expansion plans in the West Coast Division,” said Brian Hannasch, senior vice president for western North America. “We selected the stores based on prime locations, potential for growth and quality of people. These new sites will contribute to improve the profitability of the division. After this transaction, our network in the West Coast Division will include 286 stores.