Alimentation Couche-Tard has closed its $1.6 billion acquisition of GetGo Café + Markets, the convenience store arm of supermarket chain Giant Eagle, according to a joint announcement from both companies on Monday.
Couche-Tard, the second-largest c-store chain in the U.S. with over 7,000 convenience stores across the country, is adding 270 more locations to its network in the deal. GetGo’s stores are scattered across Pennsylvania, Ohio, West Virginia, Maryland and Indiana.
As outlined last week when Couche-Tard sold 35 locations to Majors Management in order to meet the Federal Trade Commission’s requirements to close the deal, GetGo will operate as a separate business unit led by Vice President of Operations Mike Maraldo. Couche-Tard will also continue operating GetGo’s popular myPerks loyalty program, which it shares with Giant Eagle.
“GetGo has earned a passionate following in the communities it serves thanks to an amazing team delivering a best-in-class food offer, in-store experience and loyalty program,” Alex Miller, president and CEO of Couche-Tard, said in Monday’s release. “We look forward to investing in the brand, empowering its continued success, and collaborating closely with Giant Eagle to create even more value for the customers we serve together.”
For Giant Eagle, selling GetGo is an opportunity for the supermarket chain to focus more on growing its grocery and pharmacy businesses, according to the announcement. Giant Eagle CEO Bill Artman called the deal “an important moment” in the company’s history.
“It is both a catalyst for investment into the communities we have served for more than 90 years and an assurance that one of the most valuable savings opportunities we provide to customers — our myPerks loyalty program — will remain with earning and redemption options at both Giant Eagle and GetGo,” Artman said.
Couche-Tard’s leadership has openly touted GetGo’s foodservice capabilities as the driving force of the acquisition, and the Canadian retailer said on Monday that it plans to “announce a series of initiatives aimed at expanding the offerings and value it delivers across the communities it serves” in the coming months.
As of this month, Couche-Tard’s proprietary Fresh Food, Fast program was available in nearly 6,200 Circle K c-stores globally. Its items include hot sandwiches and burgers, cold deli subs and wraps, pizza, hot snacks, baked goods and roller-grill dogs. Meanwhile, GetGo’s menu features a variety of made-to-order wraps, sandwiches, salads and burgers, as well as chicken tenders and wings, burritos and even plant-based protein options. The company has also been at the forefront of adding drive-thrus to its convenience stores in recent years.
Besides selling GetGo, Giant Eagle also recently closed on the sale of its wholesale motor fuels distribution business to Cary Oil, according to Monday’s announcement.
