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LAVAL, Quebec -- Alimentation Couche-Tard Inc. signed, through its subsidiary Circle K Stores Inc., an agreement to acquire eight stores in central North Carolina from Accel Marketing LLC, which operates under the "Accel" banner. The transaction is anticipated to close in April 2010 and is subject to standard regulatory approvals and closing conditions.
All eight stores are company operated and offer proprietary branded motor fuel. The stores will be operated by the Circle K Southeast Division under the Circle K banner and offer Circle K motor fuels. The company will buy the land and buildings for all locations.
"These stores are highly visible and occupy strategic locations within their respective trade areas," said Matt McCure, vice president operations, Southeast Division. "They are large, modern, well-built facilities that are well operated and have a strong management team in place. Strategically, this acquisition is a complement to our expansion and growth plans for the Southeast Division."
According to a confidentiality agreement between the parties, the purchase price cannot be disclosed. Internal available cash dollars will pay for the transaction, the c-store operator said in a statement.
Couche-Tard currently operates a network of 5,904 convenience stores, 4,128 of which include motor fuel dispensing, in 43 states and the District of Columbia, and 10 Canadian provinces. More than 52,000 people are employed throughout Couche-Tard's retail convenience network and service centers.
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