Alimentation Couche-Tard has announced that it will acquire certain European retail assets from TotalEnergies. The deal was initially announced earlier this year on March 16.
Following completion of the information and consultation process involving TotalEnergies employee representative bodies at European level in Belgium, the Netherlands and Luxembourg, TotalEnergies has accepted the corporation’s offer and will now enter into definitive agreements to effect the transaction. This transaction remains subject to the approval of relevant European regulatory authorities and closing continues on track to occur before the end of the calendar year 2023.
The financial terms and conditions announced in March remain unchanged, whereby Couche-Tard would acquire 100% of TotalEnergies retail assets in Germany and the Netherlands, as well as 60% controlling interest in the Belgium and Luxembourg entities, for a purchase price of approximately €3.1 billion, to be paid in cash, subject to customary closing adjustments.
Couche-Tard operates in 24 countries and territories, with more than 14,300 stores, of which approximately 10,900 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics and Ireland.
