Canadian convenience retailer Couche-Tard has sold 52 sites in the Atlantic Canada region to petroleum product distributor Harnois Énergies.
Couche-Tard made the sale following an agreement with the Competition Bureau last year in relation to its proposed acquisition of the Wilsons network.
The bureau kept the acquisition on hold over concerns that it would reduce or prevent competition in the supply of retail gasoline in some markets.
The divestiture completes Couche-Tard’s acquisition of Wilsons’ network, which consists of Cape D’Or Holdings, Barrington Terminals and other related holding entities.
These businesses operate independent convenience store and fuel networks in Atlantic Canada under the banners Esso, Wilsons Gas Stops and Go! Stores (Wilsons).
Alimentation Couche-Tard president and CEO Brian Hannasch said: “We are pleased to welcome the Wilsons network into the family and look forward to its integration.
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By GlobalData“The addition of this strong network further strengthens our position in Atlantic Canada, and we are excited to add great team members to the Couche-Tard family.”
Couche–Tard has now added 45 corporate-owned and operated convenience retail and fuel locations to its network, as well as more than 120 dealer locations in Atlantic Canada.
The company has also received a marine fuel terminal in Halifax, Nova Scotia.
Couche-Tard hired National Bank Financial as its financial advisor for the sale of the 52 sites.
The financial terms of the deal have not been disclosed.
Couche-Tard operates in 24 countries and territories under its Couche-Tard and Circle K banners, employing around 122,000 colleagues.
The company recently agreed to acquire 45 company-owned and company-operated retail sites in Arkansas from Big Red Stores.
The portfolio consists mainly of large-format stores with ample space for foodservice and product offerings.
The deal is expected to close before June this year subject to standard regulatory approvals and closing conditions being met.
