Couche-Tard Closes Acquisition of 112 MAPCO Stores
Quebec retail giant Couche-Tard has completed its acquisition of 112 Mapco convenience stores and gas stations in the southern U.S.
Montreal-based Couche-Tard announced the acquisition of the stores in April. The deal was contingent on the company MAPCO Express and its remaining locations being sold to a third party. Couche-Tard announced this week that it closed the purchase from Chile’s COPEC.
The deal includes a surplus property and logistics fleet.
“Most of the real estate is owned,” said Couche-Tard in a news release.
Couche-Tard financed the acquisition through cash on hand and its U.S. commercial paper program.
The properties comprise a strong network of well-locates sites in attractive and desirable locations primarily in Tennessee and Alabama, with other locations in Kentucky and Georgia, according to Couche-Tard.
The retailer operates about 14,400 stores, including 10,900 fuel stations, in 25 countries and territories under the Couche-Tard, Circle-K, Mac’s and other banners. In October, the Pembroke Management Hall of Fame inducted Couche-Tard founder Alain Bouchard.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.