Alimentation Couche-Tard to Acquire GetGo Café Market Stores from Giant Eagle
Acquisition Expands Couche-Tard's Presence in the United States
Alimentation Couche-Tard Inc., the parent company of the Circle K convenience store brand, has reached an agreement to acquire the United States-based GetGo Café Market stores from supermarket chain Giant Eagle.
Details of the Acquisition
- Couche-Tard will acquire 267 GetGo Café Market stores located in Pennsylvania, Ohio, and West Virginia.
- The transaction includes the GetGo Café Market brand, store assets, and employees.
- The acquisition is expected to close in the fourth quarter of 2024, subject to regulatory approvals and customary closing conditions.
Strategic Benefits for Couche-Tard
The acquisition will significantly expand Couche-Tard's presence in the United States, adding over 2,200 employees and increasing its store count to approximately 9,800.
GetGo Café Markets are known for their fresh food offerings and convenient locations, making them a valuable addition to Couche-Tard's network of convenience stores.
Financial Implications
The purchase price for the GetGo Café Market stores is approximately $1.05 billion, excluding working capital. Couche-Tard intends to fund the acquisition through a combination of existing cash and debt financing.
About Alimentation Couche-Tard
Alimentation Couche-Tard is one of the largest convenience store operators in the world, with over 14,400 stores in 26 countries and territories.
In addition to Circle K, the company owns other popular convenience store brands, such as Mac's, Ingo, and Statoil.
About Giant Eagle
Giant Eagle is a supermarket chain based in Pittsburgh, Pennsylvania, United States.
The company operates over 470 stores in Pennsylvania, Ohio, West Virginia, Indiana, and Maryland, and is the third-largest grocery chain in the Pittsburgh metropolitan area.
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