January 4, 2024 [Financial Post]- Alimentation Couche-Tard Inc. says it has completed its acquisition of certain European retail assets from French oil giant TotalEnergies SE.
The deal announced in March 2023 includes all of the company’s retail assets in Germany and the Netherlands, plus a 60 per cent controlling interest in its Belgium and Luxembourg entities.
The acquisition by the Laval-based convenience store and gas station operator was valued at 3.1 billion euros.
It involves more than 2,000 service stations, with just over half of them in Germany.
Couche-Tard chief executive Brian Hannasch says the deal brings his company into four new countries.
He says it significantly expands Couche-Tard’s reach in Europe.
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