Wednesday, May 25, 2022
Alimentation Couche-Tard Selling 109 Stores
Retailer offering 78 U.S. Circle K- and Holiday-branded, 31 Couche-Tard-branded outlets in Canada
Source: CSP Daily News
By Greg Lindenberg, EditorLAVAL, Quebec — Alimentation Couche-Tard Inc. is putting 109 Circle K, Holiday and Couche-Tard sites in the United States and Canada up for sale. The sale includes 78 sites across 19 states in the United States and 31 sites across three provinces in Canada, with an average store size of 2,209 square feet and an average lot size of 28,214 square feet.
Of the 109 sites, 42 are fee-owned and 65 are leased, and two are fee and leased while 61 properties sell fuel and 48 are convenience only. The stores are all being offered without fuel supply and without convenience-store brand.
The U.S. sites are in Alaska, Arizona, California, Colorado, Georgia, Illinois, Indiana, Michigan, Minnesota, Missouri, Montana, North Carolina, New Mexico, Ohio, South Carolina, Texas, Washington and Wisconsin. In Canada, the sites are in Alberta, Ontario and Quebec.
Couche-Tard has engaged NRC Realty & Capital Advisors LLC to coordinate and manage the sale. NRC offered and sold 260 sites for Couche-Tard in 2021.
“We are excited to assist Circle K again,” said Evan Gladstone, NRC’s executive managing director. “These stores are being sold in NRC’s well-known ‘buy one, some or all’ format, and NRC expects great interest from individual retailers and small companies. Many smaller retailers have had challenges competing with the large buyers over the past several years, and this sale is a terrific opportunity for them to grow their businesses.”
Chicago-based NRC provides a full array of real estate and financial advisory services to the convenience-store and petroleum industries in North America. It offers portfolio evaluation and analysis; refinancing, recapitalization and sale-leaseback financing options; portfolio and single-site store sales and merger and acquisition advisory services.
Couche-Tard is No. 2 on CSP’s 2022 Top 40 Update to the 2021 Top 202 ranking of U.S. c-store chains by store count. Watch for the full 2022 Top 202 ranking in the June issue of CSP magazine and in CSP Daily News. Laval, Quebec-based Couche-Tard’s 26-country global network includes approximately 9,300 c-stores in North America, with more than 7,100 in the United States under the Circle K and Holiday Stationstores banners in 48 states, and approximately 2,100 in Canada under the Circle K, Mac’s and Couche-Tard banners. In Europe, under the Circle K and other banners, Couche-Tard operates a retail network in Scandinavia, Ireland, Poland, the Baltics and Russia including more than 2,700 stores and unmanned automated fuel stations. And under licensing agreements, more than 2,200 stores operate under the Circle K banner in 15 other countries and territories (Cambodia, Egypt, Guam, Guatemala, Honduras, Hong Kong, Indonesia, Jamaica, Macau, Mexico, Mongolia, New Zealand, Saudi Arabia, the United Arab Emirates and Vietnam). This brings Couche-Tard’s worldwide total network to approximately 14,200 mostly Circle K-branded c-stores.
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To see a list of convenience stores and gas stations for sale, click here.