Couche-Tard takes over Ireland's Topaz
Alimentation Couche-Tard Inc. has announced the acquisition of Ireland's leading convenience and fuel retailer Topaz. The American convenience store giant will control 464 gas station, 30 depots and two terminals in Ireland.
In a press release, Couche-Tard said they have signed the agreement to acquire 99.86% of the Topaz Energy Group Limited and of Resource Property Investment Fund plc. The deal also includes Topaz´s recent acquisition, Esso Ireland Limited. Couche-Tard will become the country´s leading fuel retailers after this acquisition.
All parties have agreed to not disclose the purchase price of the acquisition. The transaction is anticipated to close in the fourth quarter of Couche-Tard's fiscal year 2016 and is subject to the usual regulatory approvals and closing conditions.
“This agreement to acquire Topaz's network and assets, our second announcement in Europe this year following the Danish Shell deal, would allow us to add yet another high quality network to our operations," says Brian Hannasch, President & CEO of Couche-Tard.
“We have been looking at this market [Ireland] for several years. With the addition of Topaz, we would expand our geographic footprint into what, today, is one of Europe's best performing economies,” added Hannasch.
Topaz is the leading convenience and fuel retailer in the country, made up of 464 stations across the island of Ireland including its recently acquired Esso station network. Of these stations, 162 are owned by Topaz and 302 by dealers. The agreement also encompasses a commercial fuels operation, with over 30 depots and two owned terminals.
