Couche-Tard Buys Assets Of Estonian Forecourt Retailer
Canadian convenience store and fuel station operator Alimentation Couche-Tard has bought a total of 23 assets from the Estonian Premium 7 network from Sevenoil Est OÜ and its affiliates.
Couche-Tard, through its wholly-owned indirect subsidiary Circle K Eesti AS, bought a total of 23 sites, which comprise 11 full service fuel stations with convenience stores and 12 automated fuel stations.
Couche-Tard, which operates the Circle K convenience stores and took over the Irish-based Topaz forecourt stores in December, said it will close the in the second quarter of Couche-Tard’s fiscal year 2017 subject to necessary approvals.
Following the acquisition, all the sites would be operated under the Statoil brand and within a year rebranded and operated under the Circle K brand by Couche-Tard’s Estonian business unit.
“This acquisition would be a great addition to Couche-Tard’s expansion and growth plans in Europe. Having just added Ireland to our European network and expanded our footprint in Scandinavia with Shell’s retail network in Denmark, Couche-Tard’s declaration in 2012 is becoming a reality: Circle K Europe (formerly Statoil Fuel & Retail AS) is our platform for growth in Europe,” commented Jacob Schram, Group President Europe, Couche-Tard.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by John Golden. To subscribe to ESM: The European Supermarket Magazine, click here.