Couche-Tard acquired The Pantry Inc. for approximately $860 million in 2015. Based in Cary, N.C., The Pantry operated 1,512 stores in 13 states, primarily under the Kangaroo Express banner.
The sale followed a turbulent year that included a protracted battle that placed activist shareholder representatives on the company’s board to help maximize shareholder value by improving corporate governance and shifting its retail strategy.
"The Pantry is an excellent company and is well-positioned in the Southeastern and Gulf Coast regions of the U.S., two of the fastest growing areas of the U.S.,” Brian Hannasch, Couche-Tard's president and CEO, said when the deal was announced. “This transaction … will position us as the definitive leader in this region and will reinforce our position as one of the largest convenience-store operators in North America."
No. 4 Couche-Tard Acquires The Pantry
1,500 stores
When: 2015
$860 million