laval, Qc, april 30 /prnewswire-firstcall/ - Alimentation Couche-tard Inc.
announces That It Has Signed, Through Its Subsidiary Macs Convenience Stores
llc, An Agreement To Acquire 83 Stores In The st. Louis Missouri Area And
nearby Central illinois Area From Spirit Energy, L.l.c. Which Does Business As
convenient Food Mart. Should The Transaction Close As Anticipated, We Estimate
that These Assets Would Add Revenues Of Approximately $430 Million (us) To
couche-tards Revenues On An Annualized Basis. The Transaction Is Anticipated
to Close In July, 2008 And Is Subject To Standard Regulatory Approvals And
closing Conditions. According To A Confidentiality Agreement Between The
parties The Purchase Price Cannot Be Disclosed At This Time. Internal
available Cash Dollars Will Pay For The Transaction.
Of The 83 Convenience Stores, 69 Operate Under The Convenient Food Mart
banner And Are All Company Operated. The Stores Would Be Operated By The
circle K Midwest Division Under The Circle K Banner. The Remaining 14
locations Currently Operate As Dealers. Pursuant To This Transaction, The
company Would Buy The Land And Buildings For 15 Locations And Would Assume Or
enter Into Leases For The Remaining Locations. The Company Plans To Keep The
stations Shell Branded.
\\\"subsequent To This Transaction, Our Network In The Circle K Midwest
division Would Include A Total Of 424 Company Operated Stores. These Stores
are Located On Highly Visible And Well-traveled Roads And Occupy Strategic
locations Within Their Respective Trade Areas. These Sites Are Well Operated
and Have A Strong Management Team In Place. Strategically, This Acquisition Is
a Complement To Our Expansion And Growth Plans For The Midwest Division. In
addition To Being An Excellent Fit Within Our Current Network It Is Also An
entry Into A New Market Area And Would Allow Us To More Easily Target Growth
in The st. Louis Market.\\\" Indicated darrell Davis, Vice-president Operations,
circle K Midwest Division.
Profile
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Alimentation Couche-tard Inc. Is The Leader In The Canadian Convenience
store Industry. In north America, Couche-tard Is The Second Largest
independent Convenience Store Operator (whether Integrated Or Not With A
petroleum Company) In Terms Of Number Of Stores. Couche-tard Currently
operates A Network Of 5,690 Convenience Stores, 3,440 Of Which Include Motor
fuel Dispensing, Located In Eleven Large Geographic Markets, Including Eight
in the United States Covering 29 States And Three In canada Covering Six
provinces. Some 45,000 People Are Employed Throughout Couche- Tards Retail
convenience Network And Executive Offices.
The Statements Set Forth In This Press Release, Which Describes
couche-tards Objectives, Projections, Estimates, Expectations Or Forecasts,
may Constitute Forward-looking Statements Within The Meaning Of Securities
legislation. Positive Or Negative Verbs Such As \\\"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 Natures, 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 Projections. Major Factors That May Lead
to A Material Difference Between Couche-tards 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 The Reports Filed By Couche-tard With Securities Authorities
in canada And the United States. 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 Release Is Based On Information Available As Of The Date Of The Release.
source Alimentation Couche-tard Inc. |
