Alimentation Couche-Tard Inc., through its wholly-owned indirect subsidiary, Mac’s Convenience Stores LLC, is set to acquire 12 stores in the Indianapolis, Ind., area from Crystal Flash Petroleum LLC, which operates under the “Crystal Flash” banner.
The transaction is anticipated to close in September 2010 and is subject to standard regulatory approvals and closing conditions. According to a confidentiality agreement between the parties, the purchase price cannot be disclosed at this time. Internal available cash dollars will pay for the transaction.
The stores offer motor fuel and would be operated by the Couche-Tard’s Midwest Division under the Circle K brand. Pursuant to this transaction, the Company would buy the land and buildings for one location and would assume or enter into leases for the remaining locations.
“Subsequent to this transaction, our network in the Circle K Midwest Division would include a total of 471 company operated-stores. These stores are located on highly visible and well-traveled roads and occupy strategic locations within their respective trade areas. Strategically, this acquisition would be a complement to our expansion and growth plans for the Midwest Division. These stores would be an excellent fit within our existing Indianapolis market area,” said Darrell Davis, vice-president operations, Midwest Division.
