Couche-Tard gets boost from Esso stores

The Guardian (Charlottetown) - - BUSINESS -

MON­TREAL — Ali­men­ta­tion Couche-Tard capped its fis­cal year with a strong fourth quar­ter as its Cana­dian op­er­a­tions got a boost from the full im­pact of its ac­qui­si­tion of Esso con­ve­nience stores.

The Quebec-based owner of Cir­cle K, Couche-Tard and Mac’s con­ve­nience stores and gas bars said its Cana­dian sales in­creased by 81 per cent from a year ago while gross profit was up 54 per cent. Couche-Tard pur­chased 278 Im­pe­rial Oil Canada re­tail stores in On­tario and Quebec for $1.7 bil­lion. The deal closed in Oc­to­ber but the full im­pact from the ac­qui­si­tion was re­al­ized in the com­pany’s fourth quar­ter, ended April 30. Canada ac­counted for 14 per cent of Couche-Tard’s global sales in the quar­ter, up from 10 per cent a year ear­lier. Couche-Tard fol­lowed the Esso deal by adding nearly 1,300 CST Brands stores in Canada and the U.S. in a deal that closed June 28 af­ter the com­pany agreed to sell about 420 lo­ca­tions to sat­isfy Com­pe­ti­tion Bu­reau re­quire­ments.

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