Alimentation Couche-Tard Completes TotalEnergies Acquisition

LAVAL, Québec — Alimentation Couche-Tard Inc.'s network in Europe just got substantially bigger.

The convenience store and fuel retailer officially completed its deal for certain European retail assets from TotalEnergies SE, a French multinational integrated energy and petroleum company, on Jan. 3. The acquisition includes 100% of TotalEnergies' retail assets in Germany and the Netherlands plus a 60% controlling interest in the company's entities in Belgium and Luxembourg.

[Read more: Alimentation Couche-Tard Charts a Mix of Growth Activity]

Couche-Tard's newly acquired retail assets include 2,175 sites: 1,191 located in Germany, 562 located in Belgium, 378 located in the Netherlands and 44 located in Luxembourg. The majority (69%) are company owned, with the remainder being dealer owned.

The deal was first unveiled in March 2023, as Convenience Store News previously reported.

"With this acquisition, we are entering four new countries and significantly expanding our reach in Europe. We are very excited to welcome these new team members and stores into the Couche-Tard family and are confident that they are a great fit with our company and culture," said Brian Hannasch, President and CEO of Couche-Tard. "We have a proven track record of successful integrations and have already identified local talent to lead in each country. We look forward to our journey of growing together as we bring lasting value to our customers, business, and shareholders."

The transaction was financed using Couche-Tard's available cash, US Commercial Paper program and term loans.

Laval-based Couche-Tard is a global leader in convenience and mobility, operating in 25 countries and territories, with more than 14,400 stores, of which approximately 10,800 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics and Ireland. It also has an important presence in Poland and Hong Kong Special Administrative Region of the People's Republic of China. Approximately 128,000 people are employed throughout its network.