Couche-Tard buys 53 sites in Louisiana

Alimentation Couche-Tard Inc. has signed an agreement to purchase 53 sites in Louisiana from American General Investments and North American Financial Group.

These convenience stores currently operate under the store brand Cracker Barrel and include 12 quick service restaurants. All but one of the sites offer branded motor fuels under the Shell, Chevron or Cracker Barrel brand names. Of the 53 sites, Couche-Tard would own the land and building for 47 locations and would assume or enter into leases for the remaining 6 locations.

Following this acquisition, all of the stores would be rebranded and operated under the Circle K brand by Couche‑Tard's U.S. Division of the Gulf Coast Region.

"This acquisition would be a great addition to Couche-Tard's expansion and growth plans for the Gulf Division." commented Brian Bednarz, Vice President Operations, U.S. Division of the Gulf Coast Region.

The acquisition will be financed from Couche-Tard's available cash and existing credit facilities. The parties have agreed not to disclose the purchase price for this acquisition.

Couche-Tard's network in the Circle K Division of the Gulf Coast Region would now include a total of 638 company operated-stores, 8 company owned and dealer operated, and 54 dealer owned and operated.