Dive Brief:
- Alimentation Couche-Tard has agreed to acquire 52 retail sites in Canada from Irving Oil for an undisclosed amount, both companies announced on Friday.
- The transaction includes 50 retail sites in Québec and another two in Pembroke and Cornwall, Ontario, per both announcements.
- This agreement comes less than three months after Couche-Tard agreed to purchase a controlling interest in Żabka Group, Poland’s largest convenience retailer.
Dive Insight:
The Quebec locations included in the transaction were part of the Québec Alliance, a partnership between Irving Oil and Couche-Tard established more than two decades ago, according to Couche-Tard’s announcement. The alliance initially called for the conversion of 56 Irving-branded convenience stores to the Couche-Tard banner and the introduction of Irving-branded fuel at 60 Couche-Tard sites. In 2008, the partnership expanded to include an additional 252 convenience stores across Atlantic Canada and New England.
The new agreement builds on that longstanding relationship, Stéphane Trudel, senior vice president of operations at Couche-Tard, said in its announcement. An estimated closing date was not disclosed.
"These are markets and customers we know well,” Trudel said. “The transaction would support our continued investment in the everyday convenience experience we offer our customers."
The deal also includes 18 cardlock sites — 16 in Québec and two in Ontario. Of these, 16 are co-located with retail sites included in the transaction and two are adjacent to sites already owned and operated by Couche-Tard, according to Couche-Tard’s announcement. Existing Irving Oil fleet customers will still be served at these locations under a long-term agreement between Couche-Tard and Irving Oil, both announcements said.
