Couche-Tard signs deal to sell 49 stores, puts 306 more up for sale
Convenience store operator has decided to sell nearly 40 sites across six provinces, following a review
Alimentation Couche-Tard Inc. has signed a deal to sell 49 stores in Oklahoma to Casey's General Stores Inc. for $39 million.
The deal includes 46 leased and three owned properties and is expected to close by July 31.
The convenience store company also says it has hired a real estate advisory firm to help with the sale of 306 other sites across North America, following a strategic review.
The stores up for sale include 269 locations across 25 states in the United States and 37 sites across six provinces in Canada.
Couche-Tard CEO Brian Hannasch says the plan to sell the stores follows a review that began last fall.
Couche-Tard has more than 14,200 stores in 26 countries and territories.