Couche-Tard to Expand in Canada Through Acquisition of Wilsons Chain
The purchase includes 179 retail and fuel sites, 147 dealer locations, and a marine fuel terminal.
LAVAL, Quebec — Alimentation Couche-Tard Inc. will acquire the Esso, Wilsons Gas Stops and Go! Store convenience store brands (Wilsons) through its purchase of Cape D'Or Holdings Ltd., Barrington Terminals Ltd. and other related holding entities, which operate the independent c-store and fuel network.
Couche-Tard signed a binding agreement to acquire the Wilsons network, which includes "high-quality" locations operating in all four Atlantic Canada provinces.
The deal includes 179 corporate-owned and -operated convenience retail and fuel locations, 147 dealer locations, of which two are corporately owned, and a marine fuel terminal in Halifax, Nova Scotia.
Couche-Tard intends to finance the deal through available cash and/or existing credit facilities. Some assets will be purchased by a third-party acquisition partner, to be determined following a review of the proposed transaction by the Canadian Competition Bureau.
"The transaction is a great fit for Couche-Tard and will allow us to continue to build on our geographic expansion strategy through the addition of complementary sites while bringing added value to our team members and customers in Atlantic Canada," said Alimentation Couche-Tard President and CEO Brian Hannasch. "We are committed to purchasing strong sites with capabilities both inside the stores and on the forecourts to further our organic growth platforms and showcase Couche-Tard's industry leading commitment to innovation and customer service, and we clearly see that potential in the Go! Stores and Wilsons' assets and its dedicated employees."
The acquisition is expected to close during the first half of the 2022 calendar year and is subject to customary closing conditions and regulatory approvals, including under the Competition Act.
Laval-based Couche-Tard currently operates in 26 countries and territories, with more than 14,200 stores globally.