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LAVAL, Quebec -- Alimentation Couche-Tard Inc. bought seven Fuel Mart convenience stores in Ohio from Ports Petroleum Co., reported Montreal’s The Gazette .
The stores, purchased through Couche-Tard subsidiary Mac's Convenience Stores LLC, are expected to add about $35 million to the Quebec-based company's annual revenues.
Terms of the deal, expected to close Nov. 3, were not released.
The stores, most of which are located around Cleveland, have motor fuel facilities and one a Subway restaurant. They will eventually be operated under the company's Circle K banner.
"We are pleased with this opportunity, which allows us to complement the network expansion plans in the Midwest," said Michel Bernard, Couche-Tard vice-president of operations Midwest, according to the report.
"Under our operation model and with the efficiency of our marketing programs, these seven sites would contribute to improve profitability of the Midwest division."
Couche-Tard currently operates a network of 4,861 convenience stores in Canada and the United States. The company now has 499 stores in its Midwest division.