Couche-Tard Pins on Texas Star

Adds 18 convenience stores in Lone Star State Published in CSP Daily News LAVAL, Quebec — As the news broke of the resignation of its CFO Raymond Paré, Alimentation Couche-Tard Inc. announced that it has signed, through Circle K Stores Inc., an agreement to purchase all the assets operated under the Texas Star brand from Corpus Christi, Texas-based Texas Star Investments Inc. and its affiliates. The assets include 18 convenience stores, two freestanding Subway restaurants and a dealer fuel supply network located in the southern part of Texas. As reported in a 21st Century Smoke/CSP Daily News Flash, these convenience stores operate under the Texas Star c-store brand and offer Shell- and CITGO-branded motor fuels. As a result of the transaction, Couche-Tard plans on keeping the existing fuel brands and would buy the land and buildings for 17 locations and would assume or enter into a lease for the one remaining location. Following the acquisition, all of the stores will be operated under the new Circle K brand by Couche‑Tard’s U.S. Southwest Division. “Subsequent to this transaction, Couche-Tard’s network in the Circle K Southwest Division would include a total of 356 company-operated stores and 157 locations under wholesale or franchise agreement,” said Kelly McGuire, vice president of operations for the U.S. Southwest Division. “These stores occupy strategic locations within their respective trade areas. This acquisition would be a great addition to Couche-Tard’s expansion and growth plans for the Southwest Division.” The parties have agreed not to disclose the purchase price for this transaction, which the company said it expects to close in the second half of Couche-Tard’s fiscal 2016,...