Canada: Couche-Tard gets green light for major acquisition
Alimentation Couche-Tard Inc. has received approval to proceed with the proposed acquisition of certain retail assets of Imperial Oil.
After disinvesting in two gas stations, the Canadian Competition Bureau has given Couche-Tard green light to acquire 279 fuel stations belonging to Imperial Oil in the Provinces of Ontario and Québec.
In March 2016, Couche-Tard announced an agreement with Imperial to acquire 279 Esso-branded fuel and convenience sites. Of these sites, 229 are located in Ontario – the majority of which are in the Greater Toronto Area – and 50 sites are located in Québec.
“The addition of Imperial’s sites allows us to expand our network and reach more fuel customers than ever before,” says Jean Bernier, Couche-Tard’s Group President Global Fuels & North-East Operations.
The agreement also includes 13 land banks and 2 dealer sites, as well as a long-term supply agreement for Esso-branded fuel. Of the 279 sites, 238 are owned and 41 are leased.
