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Couche-Tard Acquiring CST Brands

LAVAL, Quebec, and SAN ANTONIO — Alimentation Couche-Tard Inc. has announced a definitive merger agreement with CST Brands Inc. under which Couche-Tard would acquire CST in an all-cash transaction for $48.53 per share, with a total enterprise value of approximately $4.4 billion (U.S.) including net debt assumed. The terms and conditions of the agreement were unanimously approved by the boards of directors of both companies. The transaction price represents a premium of 42% to CST’s closing share price on March 3, 2016, the last trading day prior to CST announcing that it would explore and review its strategic alternatives to further enhance its stockholder value. This all-cash transaction is expected to be financed by Couche-Tard’s available cash, existing credit facilities and a new term loan. The CST transaction is expected to close in early calendar year 2017 and is subject to the approval of CST’s stockholders and regulatory approvals in the United States and Canada. Couche-Tard has also entered into an agreement with Parkland Fuel Corp. pursuant to which it would sell certain Canadian assets of CST after the merger for approximately $750 million (U.S). The assets in Canada that would be sold include CST’s Cardlock business, CST’s Dealer and Commission Agents business, CST’s commercial and home energy business, a number of company-operated stores to be determined following the Competition Bureau of Canada’s review of the transaction and CST’s Montréal corporate head office. This transaction is subject to customary regulatory approval and closing conditions. Couche-Tard intends to use the proceeds from this sale to repay part of its credit facilities. CST is based in San Antonio and has more...

Convenience Valet Partners With Folds of Honor

May 05, 2016 MELROSE PARK, Ill. — Convenience Valet has announced partnership with The Folds of Honor Foundation, a charity that provides scholarships to the spouses and children of soldiers killed or disabled in service to America. Of the more than one million dependents adversely affected by deployments, nearly nine out of 10 do not qualify for federal scholarship assistance. “During the 2015 CSP Outlook Conference, I was personally moved and motivated during a presentation by Major Dan Rooney, founder of the foundation,” said Jim Blosser, executive vice president of sales for Convenience Valet. “In discussing with our team and in light of our very successful and ongoing partnership with the Children’s Miracle Network Hospitals program, we felt we could add a presence, additional focus on and funding for The Folds of Honor Foundation,” he said. “It’s a small thing that we want do to help families of fallen and disabled soldiers.” Convenience Valet will be adding the Folds of Honor logo to its complete line of auto accessories. Sales of items bearing the Folds of Honor logo will result in a donation towards the charity. The company also plans to include stories of the foundation on the packaging. Melrose Park, Ill.-based Convenience Valet is the largest re-packer of travel and convenience items in the United...

Meet the Newest Member of our CMS Family!

Baby Josie Gail Jones was born to proud parents Jordan and Emily Jones on April 26 at 3:48am.  She weighed in at 7lbs 3oz and measured just under 21 inches.  Mom, Dad and big sister, Mattie Mae are all doing well. Welcome to the world, Josie...

2016 Sweets & Snacks Expo

Be sure to visit our manufacturer’s booths at the upcoming Sweets & Snacks Expo, held at the McCormick Place in Chicago, IL on May 24-26.   BROWNIE BRITTLE:  BOOTH 2315 A recent “Most Innovative Products Award” finalist, Sheila G’s™ Brownie Brittle™ delivers its rich brownie taste with a cookie crunch at only 120 calories per serving. Try our NEW Organic flavors: Chocolate Chip, Pretzel & Dark Chocolate, and Chocolate & Toasted Coconut–also NEW Dark Chocolate Sea Salt and Peanut Butter Chip flavors in our original line. BUD’S BEST/UNCLE AL’S COOKIES: BOOTH 1578 At Bud’s Best Cookies, we love cookies and want you to love our cookies. Through people that care, high quality ingredients, great prices and the largest selection of bite-sized offerings, find out why we have the little cookie with the BIG taste. Uncle Al’s (standard size) Cookies are quickly becoming the most recognized value priced, quality cookie in the USA. CARL BUDDIG/OLD WISCONSIN: BOOTH 459 Carl Buddig/Old Wisconsin Company will deliver the highest quality products to your customers – products they will return to buy again and again. We are very focused on products in the impulse “meat snack category” – we can provide you with special displays to make it simple for you as well as case stock for regular turn business. Different sizes, varieties and price points are all covered. Merchandising solutions as well. DiBELLA BAKING CO: BOOTH 1291 Our DiBella® brand line of Italian cookies are made with finest kosher certified, natural ingredients that have no trans fat, low sodium, low sugars, and no cholesterol. Each DiBella® brand Italian cookie is individually wrapped for...

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,...