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Couche-Tard to acquire Holiday Stationstores

RBR Staff Writer Published 11 July 2017

Alimentation Couche-Tard has agreed to acquire 100% of stake in Holiday Stationstores and select affiliated companies from Holiday Companies for an undisclosed price.

Holiday is a gasoline and convenience store chain with presence across 10 states in the Upper Midwest US.

Its assets include more than 500 company-operated and franchise locations. Under the terms, Couche-Tard will also acquire Holiday’s fuel terminal in Newport, Minnesota and a food commissary which manufactures and distributes fresh and frozen food to all its convenience stores.

Holiday’s acquisition would help the Canadian convenience store operator Couche-Tard to consolidate its global position in the convenience and fuel segment.

According to Alimentation Couche-Tard president and CEO Brian Hannasch, Holiday is highly complementary to Couche-Tard and its acquisition is expected to help the Canadian company to continue to build on its geographical growth strategy.

Hannasch added: "We believe there are tremendous synergies between the two companies and that it also gives us a great entry point into the Upper Midwest and in particular a strong position in the Greater Twin Cities metropolitan area, with a population of 3.5 million."

"This acquisition, and the added value it will bring to our existing network of 14,000 stores, confirms our capacity to continue to grow by acquisition all the while targeting continued organic growth through food sales and other key categories."

Couche-Tard expects to see annual revenues of $180-190m from the acquired Holiday business. It plans to continue the operational base of the gasoline and convenience store chain at Holiday’s corporate headquarters located in Bloomington, Minnesota.

Holiday has a workforce of nearly 6,000 employees across its network.

Holiday Stationstores chairman and CEO Ronald Erickson said: “We are pleased to entrust Couche-Tard with carrying forward the Holiday brand and our highly successful programs.

“Our 90-year history and our promising future are being placed into excellent hands.”

The acquisition is expected to be completed in the fourth quarter of Couche-Tard's fiscal year 2018 and will depend on the receipt of customary regulatory approvals and meeting of certain closing conditions.

Image: A Holiday Stationstores gas station in Marquette, Michigan. Photo: courtesy of TenPoundHammer/Wikipedia.org.