Market News

Florida Shopping Spree for Couche-Tard

Laval, Que.-based Couche-Tard convenience store chain has announced that it would purchase 24 c-stores in west-central Florida from Sparky\'s Oil Co. and 54 Ohio c-stores from Holland Oil Co. The acquisition will increase the company\'s Florida network to 570 stores and add about US$84 million in sales in that state. Seven of the new Couche-Tard stores have drive-through car washes and 17 have quick-service restaurants. All 24 stores will be converted to the Circle K banner. The stores are on highly visible and well-travelled roads, according to Mick Parker, Couche-Tard\'s Florida-Gulf division vice-president of operations. The Ohio acquisition—all company owned and selling gas—will make the Quebec company the biggest player in the Cleveland area. Analysts believe Couche-Tard will make more acquisitions in southeaster and southwestern United States. With 5,000 c-stores, the company is already the second-largest independent c-store operator in North America. Source: Canadian Grocer E-Newsletter, August 25, 2006.