Alimentation Couche-Tard acquires 55 stores in the States

Alimentation Couche-Tard Inc. is beefing up its presence south of the border.

The Quebec-based company has signed an agreement to buy 55 Super Pantry-branded convenience stores in Illinois and Indiana from Tri Star Marketing Inc. at an undisclosed price.

The convenience store giant has said the stores will operate under the Circle K brand after the transaction closes in October. However, the stores will continue to offer the existing fuel brands – Phillips 66 and Mobil.

READ: Overheated U.S. market to force Couche-Tard into overseas acquisitions: analysts

“Couche-Tard’s network in the Circle K Midwest division would include a total of 600 company operated-stores and 193 locations under wholesale or franchise agreement,” said Bruce Landini, vice-president operations for the Midwest divisions. He added the stores occupy spaces that will help Couche-Tard’s future expansion plans.

Couche-Tard’s gained interest from analysts due to its aggressive growth strategies. It’s grown from a Quebec company to a convenience store powerhouse, fuelled by the addition of Ontario’s Mac’s in 1999 and Circle K of the U.S. in 2003. It also made its first European venture with the purchase of Scandinavia’s Statoil Fuel and Retail in 2012.

Analysts have speculated the chain may look more closely at European acquisition opportunities in the future.

“It is not unlikely that Alimentation Couche-Tard will be a player as transactions unfold and may have particular interest in stations in Italy and Scandinavia,” Perry Caicco of CIBC World Markets once observed.

As it stands, Couche-Tard is the largest independent convenient store operator in the U.S and a leader in the Canadian convenience store industry, and operates just over 6,200 stores in North America.