LAVAL, QC, Aug. 1st, 2015 /PRNewswire/ – Alimentation Couche-Tard Inc. (TSX: ATD.A ATD.B) announces today that it has signed, through its wholly-owned indirect subsidiary Couche-Tard Luxembourg S.A.R.L., an agreement to sell its lubricants business to FUCHS PETROLUB SE (“FUCHS“). The sale is through a share purchase agreement, pursuant to which FUCHS would acquire 100% of all issued and outstanding shares in Statoil Fuel & Retail Lubricants AB (“SFR Lubricants”).
The deal, which is subject to standard regulatory approvals and closing conditions, is expected to be completed before the end of 2015. The parties to the deal have agreed not to disclose the purchase price at this time.
SFR Lubricants is one of the leading suppliers of lubricants in Scandinavia and the Baltics, and in recent years has had a high rate of growth in Central and Eastern Europe.
FUCHS PETROLUB is a global Group based in Germany which develops, produces and distributes around 10,000 lubricants and related specialties across the world. The Group, which was founded in 1931 and has its headquarters in Mannheim, ranks number one among the world's independent lubricant providers. The Group has a workforce of more than 4,000 employees in a total of 50 operating companies worldwide. This acquisition complements their existing European footprint, giving them a leading market position in the Scandinavian region and strengthening their position in Central and Eastern Europe.
“This transaction is in the best interests of both groups as well as our respective employees,” says Raymond Paré, Vice-President and Chief Financial Officer of Alimentation Couche-Tard Inc.
About Alimentation Couche-Tard Inc.
Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel in Scandinavian countries and in the Baltic States while it has a growing presence in Poland.
As of April 26, 2015, Couche-Tard's network comprised 7,848 convenience stores throughout North America, including 6,404 stores with road transportation fuel dispensing. Its North American network consists of 14 business units, including ten in the United States covering 41 states and the District of Columbia and four in Canada covering all ten provinces. About 80,000 people are employed throughout its network and at the service offices in North America.
In Europe, Couche-Tard operates a broad retail network across Scandinavia (Norway, Sweden, Denmark), Poland, the Baltics (Estonia, Latvia, Lithuania) and Russia, which comprised 2,230 stores as at April 26, 2015, the majority of which offer road transportation fuel and convenience products while the others are unmanned automated service-stations which offer road transportation fuel only. The Corporation also offers other products, including stationary energy, marine fuel, lubricants and chemicals. Couche-Tard operates key fuel terminals and fuel depots in six countries. Including employees at Statoil branded franchise stations, about 19,000 people work in its retail network, terminals and service offices across Europe.
In addition, under licensing agreements, about 4,700 stores are operated under the Circle K banner in 12 other countries worldwide (China, Guam, Honduras, Hong Kong, Indonesia, Japan, Macau, Malaysia, Mexico, the Philippines, United Arab Emirates and Vietnam) which brings to more than 14,700 the number of sites in Couche-Tard's network.
For more information on Alimentation Couche-Tard Inc., please visit: http://corpo.couche-tard.com.
The statements set forth in this press release, which describe Couche-Tard's objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as “will”, “plan”, “evaluate”, “estimate”, “believe”, “expect” and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in documents filed by Couche-Tard with securities regulatory authorities in Canada. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this press release is based on information available as of the date of the release.
SOURCE Alimentation Couche-Tard Inc.