Canadian convenience and forecourt operator Alimentation Couche-
Tard (known as Couche-Tard) has bought 23 sites comprising 11 full-service fuel stations with convenience stores and 12 automated fuel stations from Sevenoil Est OÜ and its affiliates in Estonia.
The deal via Couche-Tard’s wholly-owned indirect subsidiary Circle K
Eesti AS, is expected to be finalised in the second quarter of the firm’s 2017 fiscal year, subject to the standard regulatory approvals and closing conditions.
The parties have agreed not to disclose the purchase price for this acquisition.
Couche-Tard will buy the land and buildings for the 23 locations and, following the acquisition, all the sites will be operated under the Statoil
brand and then, within a year, rebranded and operated under the Circle K brand by Couche-Tard’s Estonian business unit.
“This acquisition will be a great addition to Couche-Tard’s expansion and growth plans in Europe,” said Jacob Schram, group president Europe.
“Having just added Ireland to our European network and expanded
our footprint in Scandinavia with Shell’s retail network in Denmark, Couche-Tard’s declaration in 2012 is becoming a reality: Circle K Europe (formerly Statoil Fuel & Retail AS) is our platform for growth in Europe.”
Couche-Tard is a 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.