LAVAL, Qc - Alimentation Couche-Tard Inc. says it plans to acquire 21 stores and five development properties in Texas for an undisclosed amount.
The company also plans to acquire 151 dealer supply agreements in Texas, Mississippi and Louisiana.
Couche-Tard (TSX:ATD.B) will make the acquisitions through its subsidiary Circle K Stores Inc.
The convenience stores Couche-Tard plans to acquire operate under the brands The Tote and Tiger Tote.
Following the acquisition, the stores will operate under the Circle K brand.
The deal is expected to close by the end of the company's first quarter, which ends July 19, subject to regulatory approvals.