Alimentation Couche-Tard Inc. (Laval, Que.), North America’s fourth-largest convenience store operator, announced that it has signed an agreement with Conway Oil Co. (Albuquerque, N.M.) to purchase 16 locations located in New Mexico. These acquisitions would add sales of approximately $66 million to Couche-Tard’s revenues.
The stores currently operated under the Winners banner, with either Shell or Chevron motor fuel, most located in and around Albuquerque. Ten have car washes.
Couche-Tard and its subsidiary, Circle K, would buy the land and buildings for 10 locations and would lease the other six.
“We are pleased with this opportunity, which allows us to compliment the network expansion plans in the West Coast division,” said Brian Hannasch, senior vp, Western North America. “Consistent with our development strategy, we selected these 16 stores based on the following criteria: prime locations, potential for growth and quality of people. Under our operation model and with the efficiency of our marketing programs, these 16 sites would contribute to improve profitability of the division. Subsequent to this transaction, our network in the West Coast Division will include a total of 286 stores.”
Alimentation Couche-Tard is the leader in the Canadian convenience store industry and the second-largest independent (not integrated with a petroleum company) in North America. It currently operates 4861 convenience stores, 3016 of which include motor fuel dispensing, located in eight large geographic markets, including three in Canada, and operate in 23 states in the U.S. In Quebec, Couche-Tard owns the Dunkin’ Donuts franchise and operates more than 80 shops there. The company name is French for “food for those who go to bed late.”