Alimentation Couche-Tard is selling 49 stores to a U.S. company and plans to sell an additional 305 sites in the U.S. and Canada.
The convenience store chain has sold 49 sites to Casey’s General Stores Inc. in Oklahoma and is looking to sell an additional 306 sites – 269 across 25 states and 37 sites across six provinces in Canada.
“The decision to divest select stores fits within the company's network optimization strategy and follows a comprehensive and uniform network planning process that began in the Fall of 2020,” says Brian Hannasch, president and CEO of Couche-Tard. “Through this process, we have identified sites that no longer fit our strategic objectives, either from a brand perspective or from a regional scale perspective. Concurrently, we have identified many opportunities to expand our footprint through new store builds and will continue to allocate capital to upgrade the size and scale of our locations, improve store layouts, and allow for the best utilization of our Fresh Food, Fast program as well as other initiatives which improve the customer journey."