Alimentation Couche-Tard announces US$4.4-billion deal to boost presence in U.S.
MONTREAL — Alimentation Couche-Tard plans to further expand its presence in North America with a US$4.4-billion friendly acquisition, the biggest in the Laval, Que.-based company’s history, that would make it the largest convenience store operator in Canada and the U.S.
The company that owns the Mac’s and Couche-Tard convenience store chains said it was buying CST Brands, which is headquartered in San Antonio and has more than 2,000 stores in the U.S. and Eastern Canada.
Brian Hannasch, CEO of Alimentation Couche-Tard (TSX:ATD.B), said the transaction offers a unique opportunity to acquire one of the few remaining public companies of any scale that fills a few gaps in its U.S. retail operations.
“It’s like a jigsaw puzzle that we’re fitting the pieces together,” he said during a media conference call.