Alimentation Couche-Tard to sell 109 stores

LAVAL, Quebec — Alimentation Couche-Tard Inc. is planning to sell 109 Circle K, Couche-Tard and Holiday convenience store sites in Canada and the United States.

The sale includes 31 sites across Alberta (nine), Ontario (17) and Quebec (five). In addition, there are 78 U.S. sites in 19 states, including Alaska, Arizona, California, Colorado, Georgia, Illinois, Indiana, Michigan, Minnesota, Missouri, Montana, North Carolina, New Mexico, Ohio, South Carolina, Texas, Washington and Wisconsin.

The sale in being handled by NRC Realty and Capital Advisors, which also worked with Couche-Tard in 2021 when it divested nearly 4% of its North American network. 

At the time, CEO Brian Hannasch said: "The decision to divest select stores fits within the company's network optimization strategy and follows a comprehensive and uniform network planning process that began in the fall of 2020."

Of the 109 sites now for sale, 61 sell gas and 48 are convenience only. In addition, 42 are fee-owned and 65 are leased, and two are fee and leased. It's reported that the stores are all being sold without fuel supply or branding.

Couche-Tard is a global leader in convenience and fuel retail, operating in 26 countries and territories, with more than 14,100 stores, of which approximately 10,800 offer road transportation fuel. In addition to Canada and the U.S., the company is in Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong SAR. Approximately 124,000 people are employed throughout its network.

More details to come.