LAVAL, Quebec --Alimentation Couche-Tard Inc. has closed on the acquisition of Topaz Energy Group Ltd. in Ireland. The transaction, announced in early December, has received the appropriate regulatory approvals and the companies have completed all final closing requirements.
Topaz is the leading convenience and fuel retailer in Ireland, with 444 gas stations, including its recently acquired Esso gas station network. Of these stations, Topaz operates 158 and dealers operate 286. The agreement also includes a commercial fuels operation, with more than 30 depots and two terminals.
Couche-Tard will rebrand the Topaz stores, including the Esso locations, with the new global Circle K brand.
"We are very excited to announce this new addition to the Couche-Tard family," said Brian Hannasch, president and CEO of Couche-Tard. "We are pleased to have closed this transaction in such a timely manner, as it represents an outstanding opportunity for growth. We have been working closely with Topaz, and we are ready to support it through the next phase of its development."
At Dublin-based Topaz, Niall Anderton, formerly the CFO of Topaz, has been appointed managing director, succeeding Emmet O’Neill, who stepped down on the completion of the transaction.
“We are very pleased to have closed the transaction in such a timely manner and are ready to shift our focus to fully integrating Topaz into the Couche-Tard family. We are particularly pleased that Niall will take over as the leader of our business in Ireland. We have been working closely with Niall over the last few months, and we are certain that he is the right person to lead Topaz through the next phase of its development," said Jørn Madsen, Couche-Tard’s executive vice president for Central and Eastern Europe, now including Ireland.
“It’s a tremendous honor to be given this responsibility," said Anderton. "We have a really exciting and ambitious agenda ahead, completing the integration of the Esso business here in Ireland and our integration into the wider Couche-Tard family, while always maintaining our focus on our customers and partners. Couche-Tard is an exceptional company which is committed to becoming the world’s preferred convenience and fuel retailer. I believe its presence in Ireland will bring significant benefits to consumers. I’m really looking forward to leading this business over the coming years and to meeting all our partners and dealers and, most importantly, our customers.”
As of Oct. 11, 2015, Laval, Quebec-based Couche-Tard's network comprised 8,006 convenience stores throughout North America, including 6,579 stores offering fuel. Its North American network consists of 15 business units, including 11 in the United States covering 41 states--mainly under the Circle K and Kangaroo Express (The Pantry) brands--and four in Canada covering all 10 provinces--mainly under the Mac's and Couche-Tard brands.
In Europe, Couche-Tard operates a broad retail network across Scandinavia (Norway, Sweden and Denmark), Poland, the Baltics (Estonia, Latvia and Lithuania) and Russia under the Statoil and Ingo brands. As of Oct. 11, 2015, it comprised 2,217 stores, the majority of which offer fuel and convenience-store products, while the others are unmanned automated gas stations that offer fuel only.
In addition, about 4,700 stores are operated by independent operators under the Circle K banner in 13 other countries or regions worldwide (China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, the United Arab Emirates and Vietnam), which brings to more than 14,900 the number of sites in Couche-Tard's network.
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