Mergers & Acquisitions

Top CST Leadership Departs With Closing of Acquisition by Couche-Tard

C-store executives praise team, brand

SAN ANTONIO -- Kim Lubel, president and CEO of CST Brands Inc., left the convenience-store retailer on June 28, the day the company’s acquisition by Alimentation Couche-Tard Inc. closed, the Laval, Quebec-based acquirer told CSP Daily News.

In August 2016, Couche-Tard said it would acquire CST for approximately $4.4 billion.

“It’s been a long process, but we are nearly at the finish line,” Lubel said in a statement provided by Couche-Tard. “Closing day will be my last day with CST, and the CST team with whom I’ve been so privileged to work for the past five years. While bittersweet for me, I have been blessed to work with an incredible team. We have accomplished so much and had a lot of fun along the way.”

In a tweet, she said, “Today I say goodbye to the great CST team members that make CST strong. How lucky I am to have something that makes saying goodbye so hard!”

Hal Adams, president of retail for San Antonio-based CST, is also leaving the company.

“Today I say farewell to the Corner Store team. My heart is filled with gratitude and pride to have served with you—you are the brand!”, he said in a tweet.

“My time with CST was phenomenal,” Adams told CSP Daily News. “Kim Lubel is an amazing leader, and we had a tremendous leadership team. I am happy that we are leaving our company to the talented team of Circle K. I will be taking some time to enjoy family and friends this summer and then begin working on future plans. I have had the great fortune of working in the convenience industry for 35 years. It’s been great.”

CST Brands operated more than 2,000 c-stores throughout the southwestern United States, Georgia, Florida, New York and eastern Canada.

Couche-Tard's network includes 8,081 c-stores throughout North America, including 6,710 stores selling motor fuel, mostly under the Circle K, Kangaroo Express, Mac's and Couche-Tard banners. Its North American network consists of 15 business units, including 11 in the United States covering 41 states and four in Canada covering all 10 provinces.

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