The Canadian company continues to grow its Circle K chain in the US, having signed an agreement to buy 53 Cracker Barrel sites in Louisiana.
These sites are primarily in the Baton Rouge market and include 12 quick-service restaurants. All but one of the sites offer branded motor fuels under the Shell, Chevron or Cracker Barrel brand names. Of the 53 sites, Couche-Tard would own the land and building for 47 locations and would assume or enter into leases for the remaining six locations.
Following the acquisition, all of the stores would be rebranded and operated under the Circle K brand by Couche-Tard’s US division of the Gulf Coast region.
Subsequent to this transaction, Couche-Tard’s network in the Circle K division of the Gulf Coast region would include a total of 638 company operated stores, eight company owned and dealer-operated and 54 dealer-owned and operated.
Alimentation Couche-Tard reported net earnings of $324.4 million for the first quarter of fiscal 2017 compared with $297.8 million for the first quarter of fiscal 2016.