Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 February 1, 2016 - 8:06 AM EST
Print Email Article Font Down Font Up
Couche-Tard completes acquisition of Topaz in Ireland

LAVAL, QC, Feb. 1, 2016 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD.A ATD.B) confirms that it has closed the acquisition of Topaz Energy Group Ltd. in Ireland ("Topaz") as previously announced in December. The transaction has received the appropriate regulatory approvals and all final closing requirements have been completed.

Topaz is the leading convenience and fuel retailer in Ireland, made up of 444 stations across the island of Ireland, including its recently acquired Esso station network. Of these stations, 158 are operated by Topaz and 286 by dealers. The agreement also encompasses a commercial fuels operation, with more than 30 depots and two owned terminals. The Topaz stores, including those recently acquired from Esso, will be rebranded with the new global brand Circle K.

"We are very excited to announce this new addition to the Couche-Tard family," says Brian Hannasch, President and CEO of Couche-Tard. "We are pleased to have closed this transaction in such a timely manner, as it represents an outstanding opportunity for growth. We have been working closely with Topaz and we are ready to support it through the next phase of its development."

About Alimentation Couche-Tard Inc.

Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel retail in the Scandinavian and Baltic countries, with a significant presence in Poland.

As of October 11, 2015, Couche-Tard's network comprised 8,006 convenience stores throughout North America, including 6,579 stores offering road transportation fuel. Its North American network consists of 15 business units, including 11 in the United States covering 41 States and four in Canada covering all ten provinces. About 80,000 people are employed throughout its network and at its service offices in North America.

In Europe, Couche-Tard operates a broad retail network across Scandinavia (Norway, Sweden and Denmark), Poland, the Baltics (Estonia, Latvia and Lithuania) and Russia. As at October 11, 2015, it comprised 2,217 stores, the majority of which offer road transportation fuel and convenience products while the others are unmanned automated service stations which offer road transportation fuel only. The Corporation also offers other products, including stationary energy, marine fuel and chemicals. Couche-Tard operates key fuel terminals and fuel depots in six European countries. Including employees at Statoil branded franchise stations, about 19,000 people work in its retail network, terminals and service offices across Europe.

In addition, about 4,700 stores are operated by independent operators under the Circle K banner in 13 other countries or regions worldwide (China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, the United Arab Emirates and Vietnam) which brings to more than 14,900 the number of sites in Couche-Tard's network.

For more information about Alimentation Couche-Tard Inc., please visit:

Forward-Looking Statements

The statements set forth in this press release, which describe Couche-Tard's objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as "will", "plan", "evaluate", "estimate", "believe", "expect" and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in documents filed by Couche-Tard with securities regulatory authorities in Canada. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this press release is based on information available as of the date of the release.


SOURCE Alimentation Couche-Tard Inc.

Source: PR Newswire (February 1, 2016 - 8:06 AM EST)

News by QuoteMedia