Alimentation Couche-tard Inc. Announces Closing Date of the Acquisition of Holiday

Source Press Release
Company Alimentation Couche-Tard Inc 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date December 15, 2017

Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD.A ATD.B) announcesthat it has obtained clearance from the U.S. Federal Trade Commission ("FTC") to acquire all of the issued and outstanding equity interest of Holiday Stationstores, Inc. and certain affiliated companies ("Holiday"). Closing is expected to occur on December 22, 2017.  

Holiday's main assets consist of 522 company-operated and franchise locations in 10 U.S. states, two food commissaries, and a fuel terminal. Holiday, a privately owned company, is an important player in the U.S. Midwest region, and has top quartile convenience and fuel volumes under the Holiday brand.

"We are very excited to announce this new addition to the Couche-Tard family," says Brian Hannasch, President and CEO of Couche-Tard. "The Holiday assets are a strong strategic fit for our business and expands the Corporation's reach to 48 of the 50 U.S. states. Adding the Holiday stores, commissaries and fuel terminal as well as its highly successful programs and employees pushes us further in our journey to become the world's preferred destination for convenience and fuel."

Agreement to sell assets in the United States:
Following the review by the FTC of the acquisition of Holiday and in compliance with regulatory requirements, Couche-Tard has agreed to sell ten sites, including one Holiday site and nine CrossAmerica Partners LP (NYSE: CAPL) sites, to a buyer or buyers approved by the FTC within 120 days after the Decision and Order is issued. Until completion of the divestitures in accordance with the U.S. consent decree, the sites will be operated in the ordinary course of business by Couche-Tard.

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