Convenience store operator Alimentation Couche-Tard has announced an agreement to acquire 45 fuel and convenience retail stores from Big Red Stores in Arkansas.
The deal, expected to close in the first half of 2023, is subject to standard regulatory approvals and closing conditions.
Big Red Stores was founded in 1997 by Doug and David Hendrix. The company has mainly grown organically by opening new outlets over the years.
The transaction includes Big Red Stores located across the state of Arkansas.
The network features large format stores with space for enhanced foodservice and product offerings.
'An Exceptional Network'
"We are very pleased to add Big Red Stores' high-quality locations to our footprint in the state of Arkansas," said Alex Miller, Couche-Tard's chief operating officer.
"Doug and David built an exceptional network of stores and people, and we believe our values are congruent with the culture they've spent a quarter-century building. We are honoured to be stewards of their legacy. As we expand our presence in the area, we look forward to bringing the Circle K experience to new customers and making their lives a little easier every day."
The company, which operates the Couche-Tard and Circle K banners, is present in 24 countries and territories, with more than 14,300 stores, of which approximately 10,900 offer road transportation fuel.
It is one of the largest independent convenience store operators in the United States and also has a presence in Canada, Scandinavia, the Baltics, as well as in Ireland.
Approximately 122,000 people are employed throughout its network.
© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.