Alimentation Couche-Tard Inc. announced that a binding agreement has been entered into in connection with the acquisition of Cape D’Or Holdings Ltd., Barrington Terminals Ltd. and other related holding entities, which operate an independent convenience store and fuel network in Atlantic Canada under the Esso, Wilsons Gas Stops and Go! Stores brands.
The Wilsons network comprises high quality locations operating in all four Atlantic Canada provinces and includes 79 corporate-owned and operated convenience retail and fuel locations, 147 dealer locations (of which two are corporately owned), and a marine fuel terminal in Halifax, Nova Scotia.
Couche-Tard intends to acquire the Wilsons network with some assets to be purchased by a third-party acquisition partner to be determined following a review of the proposed transaction by the Canadian Competition Bureau.
The transaction is expected to close in the first half of the 2022 calendar year and is subject to customary closing conditions and regulatory approvals, including under the Competition Act. The transaction will be financed using the Corporation’s available cash and/or existing credit facilities.
“The transaction is a great fit for Couche-Tard and will allow us to continue to build on our geographic expansion strategy through the addition of complementary sites while bringing added value to our team members and customers in Atlantic Canada,” said Alimentation Couche-Tard President and CEO Brian Hannasch. “We are committed to purchasing strong sites with capabilities both inside the stores and on the forecourts to further our organic growth platforms and showcase Couche-Tard’s industry leading commitment to innovation and customer service, and we clearly see that potential in the Go! Stores and Wilsons’ assets and its dedicated employees.”
Couche-Tard operates in 26 countries and territories, with more than 14,200 stores, employeeing approximately 124,000 people throughout its network.