Wednesday, May 25, 2022
Couche-Tard to Divest 109 North American Stores
Source: Oil ExpressBy Donna Harris, Michael Kelly
Alimentation Couche-Tard Inc. has hired NRC Realty & Capital Advisors LLC to sell 109 Circle K and Couche-Tard retail sites in the United States and Canada, according to an NRC announcement Wednesday.
The sale involves 31 sites across three Canadian provinces and 78 sites across 19 U.S. states, with an average store size of 2,209 square feet and an average lot size of 28,214 square feet.
Of the total, 61 sell fuel and 48 only merchandise convenience items. About 60% of the sites are leased, and the rest fee owned.
As previously reported, though the company remains acquisitive, Couche-Tard has said it would place more emphasis on organic growth. The convenience store giant also has divested a few hundred other stores over the last few years. NRC noted in its announcement that it sold 260 sites for Couche-Tard last year.
The bid deadline for the latest sale is July 7, NRC said.
To see a list of convenience stores and gas stations for sale, click here.