Couche-Tard gets boost from Esso stores
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.