LAVAL, QC, July 30, 2021 /PRNewswire/ - Alimentation
Couche-Tard Inc. ("Couche-Tard" or the "Corporation")
(TSX: ATD.A) (TSX: ATD.B) announced today that a binding
agreement has been entered into in connection with the acquisition
of Cape D'Or Holdings Limited, Barrington Terminals Limited and
other related holding entities, which operate an independent
convenience store and fuel network in Atlantic Canada under the Esso, Wilsons Gas
Stops and Go! Store brands ("Wilsons").
The Wilsons network comprises high quality locations operating
in all four Atlantic Canada
provinces and includes 79 corporate-owned and operated convenience
retail and fuel locations, 147 dealer locations (of which two are
corporately owned), and a marine fuel terminal in Halifax, Nova Scotia.
Couche-Tard intends to acquire the Wilsons network with some
assets to be purchased by a third-party acquisition partner to be
determined following a review of the proposed transaction by the
Canadian Competition Bureau.
The transaction is expected to close in the first half of the
2022 calendar year and is subject to customary closing conditions
and regulatory approvals, including under the Competition Act. The
transaction will be financed using the Corporation's available cash
and / or existing credit facilities.
"The transaction is a great fit for Couche-Tard and will allow
us to continue to build on our geographic expansion strategy
through the addition of complementary sites while bringing added
value to our team members and customers in Atlantic Canada. We are committed to
purchasing strong sites with capabilities both inside the stores
and on the forecourts to further our organic growth platforms and
showcase Couche-Tard's industry leading commitment to innovation
and customer service, and we clearly see that potential in the Go!
Stores and Wilsons' assets and its dedicated employees," said
Brian Hannasch, President and Chief
Executive Officer of Alimentation Couche-Tard.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and fuel retail,
operating in 26 countries and territories, with more than 14,200
stores, of which approximately 10,800 offer road transportation
fuel. With its well-known Couche-Tard and Circle K banners, it is
the largest independent convenience store operator in terms of the
number of company-operated stores in the
United States and it is a leader in the convenience store
industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as
in Ireland. It also has an
important presence in Poland and
Hong Kong. Approximately 124,000
people are employed throughout its network.
For more information on Alimentation Couche-Tard Inc. or to
consult its annual Consolidated Financial Statements and Management
Discussion and Analysis, please visit:
https://corpo.couche-tard.com.
Forward-Looking Statements
The statements set forth in this press release, which describes
Couche-Tard's objectives, projections, estimates, expectations or
forecasts, may constitute forward looking statements within the
meaning of securities legislation. Positive or negative verbs such
as "believe", "can", "shall", "intend", "expect", "estimate",
"assume" and other related expressions are used to identify such
statements. Couche-Tard would like to point out that, by their very
nature, forward-looking statements involve risks and uncertainties
such that its results, or the measures it adopts, could differ
materially from those indicated in or underlying these statements,
or could have an impact on the degree of realization of a
particular projection. Major factors that may lead to a material
difference between Couche Tard's actual results and the projections
or expectations set forth in the forward-looking statements include
the effects of the integration of acquired businesses and the
ability to achieve projected synergies, uncertainty related to the
duration and severity of the current COVID-19 pandemic,
fluctuations in margins on motor fuel sales, competition in the
convenience store and retail motor fuel industries, exchange rate
variations, and such other risks as described in detail from time
to time in the reports filed by Couche-Tard with securities
regulatory authorities in Canada.
Unless otherwise required by applicable securities laws,
Couche-Tard disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
information in this release is based on information available as of
the date of the release.
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SOURCE Alimentation Couche-Tard Inc.