Couche-Tard put his hand on the stores to Holiday Stationstores

News 16 December, 2017
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    QMI agency

    Saturday, 16 December, 2017 01:52

    Saturday, 16 December, 2017 01:52

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    LAVAL – Alimentation Couche-Tard strengthens its presence in the United States with the acquisition of 522 shopping accommodation corporate and franchisees of the american Holiday Stationstores and certain affiliated companies.

    In addition to the 522 stores, the assets acquired by Couche-Tard include two facilities for food preparation and a fuel terminal located in Newport, Minnesota.

    Among these shops, 374 are operated by Holiday, 148 by franchisees and 221 sites that have car washes.

    Founded in 1928 and established in the State of Minnesota, the Holiday is present in 10 u.s. States (Minnesota, Wisconsin, Washington, Idaho, Montana, Wyoming, North Dakota, South Dakota, Michigan and Alaska).

    “Holiday is an important player in the region in the american Midwest. The active Holiday is an excellent strategic extension to our business and allow us to extend our reach to 48 of the 50 States of the u.s.,” indicated Brian Hannasch, president and chief executive officer of Couche-Tard.

    The amount of the transaction has not been clarified, the parties have signed a confidentiality agreement. In July, Couche-Tard had mentioned that “the acquired business is expected to generate earnings before interest, taxes, depreciation and amortization of between $ 180 million US $ and US $ 190 million annually, before synergies”.

    The closing of the transaction, which has received the approval of the regulatory authorities, is scheduled for December 22.

    In the month of October 2017, the network, Alimentation Couche-Tard accounted 9465 stores accommodation in North America, of which 8135 offered fuel for road transport.