Couche-Tard must divest 10 total fuel stations per the FTC before acquiring Holiday Cos.
The Federal Trade Commission (FTC) has approved an application by Alimentation Couche-Tard Inc. to divest two retail fuel stations in Minnesota.
The divestitures are required under the FTC’s Feb. 15, 2018 final order settling charges that Couche-Tard’s proposed acquisition of Holiday Cos. would violate federal antitrust law.
The application requested that the FTC approve the divestiture of the two retail fuel stations located in Saint Peter and Minnetonka to the Andeavor Corp. subsidiary Northern Tier Retail LLC. The application also included a third station in Saint Paul, but Couche-Tard later asked to divest the station to Twin City Petroleum & Property LLC instead. That application is pending final approval by the Commission.
Under the terms of the consent agreement, Couche-Tard and its affiliate, CrossAmerica Partners LP (CAPL), are required to identify a buyer or buyers that are acceptable to the Commission within 120 days after the issue date of the order, which was June 15, 2018, and to divest 10 retail fuel stations. The agreement also requires Couche-Tard and CAPL to maintain the economic viability, marketability and competitiveness of each station until the divestiture is complete.