Couche-Tard confirms Big Red Stores purchase in Arkansas
The acquisition includes 44 owned sites and one leased location with large stores featuring ample spaces for enhanced foodservice.
Alimentation Couche-Tard announced that it is moving forward with a binding agreement for the acquisition of 45 fuel and convenience retail sites from Big Red Stores.
The acquired company was originally founded in 1997 by Doug and David Hendrix, and has grown mainly organically by opening new sites over the years. The transaction includes modern, high-quality, and well-located sites across the state of Arkansas.
All 45 sites are company-owned, company-operated sites of which real estate is owned for 44 sites and leased for one site. Furthermore, the network predominantly features large format stores with ample space for enhanced foodservice and product offerings.
"We are very pleased to add Big Red Stores' high-quality locations to our footprint in the state of Arkansas. Doug and David built an exceptional network of stores and people, and we believe our values are congruent with the culture they've spent a quarter-century building. We are honored to be stewards of their legacy," said Alex Miller, Chief Operating Officer at Couche-Tard.
The transaction is expected to close in the first half of calendar year 2023, subject to standard regulatory approvals and closing conditions.
