Alimentation Couche-Tard Inc. has completed the transaction with Compañía de Petróleos de Chile S.A. (COPEC) for the acquisition of 112 company-operated fuel and convenience retail sites from MAPCO Express Inc.
The deal, announced on April 27, 2023, also included surplus property and a logistics fleet. COPEC also owned most of the real estate.
Couche-Tard financed the transaction using the corporation’s available cash and its U.S. Commercial Paper Program.
Majors Management LLC, Lawrenceville, Georgia, has completed its acquisition of the remainder of MAPCO, including 192 c-stores in Tennessee, Alabama, Georgia, Mississippi, Arkansas and Kentucky.
“We are pleased to welcome these MAPCO stores and their great team members into the Couche-Tard family and look forward to their integration,” said Alex Miller, Couche-Tard’s chief operating officer. “As we continue to grow our presence across the Southern U.S., we are excited to bring the Circle K experience to new customers in Georgia, Tennessee, Alabama and Kentucky.”
MAPCO, based in Franklin, Tennessee, has 304 locations in Tennessee, Alabama, Georgia, Arkansas, Kentucky and Mississippi. It is a subsidiary of Santiago, Chile-based COPEC, which acquired it in 2016.
- Alimentation Couche-Tard is No. 2 on CSP’s 2023 Top 202 list of convenience-store chains by store count.
Operating in 25 countries and territories, Laval, Quebec-based Couche-Tard’s network includes more than 7,100 stores in the United States, primarily under the Circle K and Holiday Stationstores banners, and approximately 2,100 in Canada under the Circle K, Mac’s and Couche-Tard banners. In Europe, under the Circle K and other banners, Couche-Tard operates a retail network in Scandinavia, Ireland, Poland, the Baltics and Russia with more than 2,700 stores and unmanned automated fuel stations. And under licensing agreements, more than 2,200 stores operate under the Circle K banner in 15 other countries and territories (Cambodia, Egypt, Guam, Guatemala, Honduras, Hong Kong, Indonesia, Jamaica, Macau, Mexico, Mongolia, New Zealand, Saudi Arabia, the United Arab Emirates and Vietnam). This brings Couche-Tard’s total worldwide network to approximately 14,400 stores.
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