Couche-Tard steps up U.S. ambitions with £2bn Holiday Stationstores purchase

By Mohammed Mestar

Alimentation Couche-Tard’s portfolio south of the border has been reinforced with the acquisition of Holiday Stationstores in a deal that could be worth up to $2bn.

The Laval-based company, which operates 8,000 Circle K outlets in Canada, is set to get its hands on the issued and outstanding shares of the Minnesota-based retailer.

Holiday runs 522 gasoline and convenience stores in ten U.S. states, including six states of new business to Couche-Tard, and employs close to 6,000 workers.

This move is just the latest step in Couche-Tard’s efforts to make a big mark in the United States following its acquisition of gas station chain CST Brands for $4bn two weeks ago.

This week it also announced a strong performance in its fourth fiscal quarter, with gross profit up by 54% in Canada and a sales increase of 81% in 12 months.

See also:

“The acquisition of Holiday is a great fit for Couche-Tard and will allow us to continue to build on our geographical growth strategy,” said Couche-Tard President and CEO Brian Hannasch.

“We believe there are tremendous synergies between the two companies and that it also gives us a great entry point into the Upper Midwest and in particular a strong position in the Greater Twin Cities metropolitan area, with a population of 3.5 million.”

“This acquisition, and the added value it will bring to our existing network of 14,000 stores, confirms our capacity to continue to grow.”

Holiday Chairman and CEO Ronald Erickson added: “We are pleased to entrust Couche-Tard with carrying forward the Holiday brand and our highly successful programs. 

“Our 90-year history and our promising future are being placed into excellent hands.”


Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI