FTC Approves Final Order Related to Couche-Tard-Holiday Cos. Deal
LAVAL, Quebec — The Federal Trade Commission (FTC) has approved a final order settling charges involving Alimentation Couche-Tard Inc.'s acquisition of Holiday Cos.
In July, Laval-based Couche-Tard signed an agreement with Holiday Cos. to acquire all the issued and outstanding shares of Holiday and certain affiliated companies. The Midwest-based Holiday's main assets consist of 522 company-operated and franchise locations in 10 U.S. states, two food commissaries and a fuel terminal.
The final approval comes after a public comment on the FTC's directive that Couche-Tard and affiliate CrossAmerica Partners LP divest 10 fuel stations in Minnesota and Wisconsin to address the antitrust concerns. According to the complaint, the acquisition would have increased the risk of both unilateral and coordinated anticompetitive effects in all 10 of the markets at issue.
The sites included one Holiday location and nine CrossAmerica locations. Couche-Tard and CrossAmerica agreed to the move in December, as CSNews Online previously reported.
The retailer and its affiliate agreed to similar FTC directives with its acquisitions of CST Brands Inc. and Jet Pep Inc., both in 2017.
As of Oct. 15, Couche-Tard's North American network comprised 9,465 convenience stores, including 8,135 stores with road transportation fuel dispensing. Its North American network consists of 18 business units, including 14 in the United States covering 41 states and four in Canada covering all 10 provinces.
In addition, through CrossAmerica Partners LP, Couche-Tard supplies road transportation fuel under various brands to more than 1,200 locations in the United States.