Couche-Tard to Acquire Select MAPCO Locations

Circle K parent company Alimentation Couche-Tard Inc. has reached an agreement to acquire 112 fuel and convenience retail sites to be carved out from MAPCO Express Inc. The acquisition is contingent on a separate transaction whereby MAPCO and its remaining locations are sold to a third party.   

According to Couche-Tard officials, the transaction includes a network of sites in attractive and desirable markets predominantly in Tennessee and Alabama, but also in Kentucky and Georgia. All 112 locations are company-operated, and most of the real estate is owned. The transaction also includes surplus property and a logistics fleet.

The transaction is expected to close in the second half of 2023, subject to standard regulatory approvals and closing conditions, and will be financed using the corporation's available cash and/or existing credit facilities, including its U.S. Commercial Paper Program.

"We are delighted to add MAPCO's high-quality sites to our footprint in the Southeastern U.S.," said Alex Miller, Couche-Tard's chief operating officer. "As we continue to grow our presence in the region, we look forward to bringing the Circle K experience to new customers and making their lives a little easier every day."