Casey’s General Stores has purchased 48 Circle K petroleum marketing and convenience retail stores from Alimentation Couche-Tard, according to Capital Markets Group, a leading, independent investment bank.
The Stores are all Circle K branded and located in Oklahoma, mostly in the greater Oklahoma City market, and sell Conoco, Phillips 66, Shell, Valero and Circle K branded fuels. Circle K Stores Inc. is owned by the global convenience and fuel retailer Alimentation Couche-Tard Inc.
“This transaction was a win-win as Casey’s acquisition of the Stores will allow them to increase their presence in the Oklahoma City market,” said Cedric Fortemps, co-head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group, “and it was very important to them to retain the vast majority of the employees, which was also important to Circle K.”
Matrix provided merger and acquisition advisory services to Circle K, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction.
Matrix’s Downstream Energy & Convenience Retail Investment Banking Group is recognized as a national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors.
Founded in 1988, Matrix Capital Markets Group provides merger and acquisition, and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies, as well as municipalities.