The Canadian convenience store leader continues to grow globally, announcing an agreement to buy 23 sites from Sevenoil Est OÜ and its affiliates.
Under the agreement, Couche-Tard would buy the land and buildings for the 23 locations, which comprise 11 full-service fuel stations with convenience stores and 12 automated fuel stations. Following the acquisition, all the sites would be operated under the Statoil brand and, within a year, rebranded and operated under the Circle K brand by Couche-Tard’s Estonian business unit.
“This acquisition would be a great addition to Couche-Tard’s expansion and growth plans in Europe,” Couche-Tard Group President Europe Jacob Schram said.
“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.”
Subsequent to this transaction, Couche-Tard’s network in Estonia would grow by 40 per cent and would total 77 company operated-stores and fuel stations.
As of January 31, 2016, Couche-Tard comprised 2,218 stores in Europe, 7,979 in North America and 1,500 stores operated by independent operators under the Circle K banner in 13 other regions worldwide.