Irving Oil agrees to sell 52 retail sites to Couche-Tard
The Canadian refiner is divesting its Québec retail assets and two Ontario locations, all already run by the Circle K owner, while keeping a long-term fleet agreement.
Irving Oil has signed a definitive agreement to sell its Québec retail assets and two Ontario locations, in Pembroke and Cornwall, to Alimentation Couche-Tard. The deal covers 50 retail sites in Québec and the two Ontario stations.
Couche-Tard already operates all of them under an agreement with Irving Oil, who also supplies fuel to 71 retail sites that Couche-Tard owns and operates in Québec.
Under a long-term agreement between the two companies, fleet customers will still be served at the transferred locations. The sale is subject to customary closing conditions and regulatory approvals.
Irving Oil is based in Saint John, New Brunswick, where it runs Canada’s largest refinery. It also operates Ireland’s only refinery, in Whitegate. Its distribution terminals supply more than 1,000 fueling locations across Eastern Canada, New England and Ireland.
