Circle K Owner Takes Part of Mapco
Alimentation Couche-Tard Inc., the owner of Circle K convenience stores, has acquired a portion of Mapco Express Inc. from Chilean owner Copec SA. The move is part of a larger effort by Couche-Tard to expand its presence in the United States.
Background of Mapco Express
Mapco Express is a chain of convenience stores located in the southeastern United States. It was founded in 1976 and is headquartered in Brentwood, Tennessee. The company operates more than 500 stores in seven states, including Alabama, Arkansas, Georgia, Kentucky, Mississippi, Tennessee, and Virginia.
Copec SA’s Ownership of Mapco Express
In 2014, Copec SA, a Chilean energy and retail conglomerate, acquired Mapco Express from Delek US Holdings Inc. for $535 million. Copec SA then began to expand the chain, opening new stores and renovating existing ones.
Alimentation Couche-Tard’s Acquisition of Mapco Express
Alimentation Couche-Tard Inc., the owner of Circle K convenience stores, has acquired a portion of Mapco Express from Copec SA. The deal was announced on April 28, 2023 and is expected to close in the second quarter of 2023.
Under the terms of the deal, Couche-Tard will acquire approximately 350 stores from Copec SA. The stores will be rebranded as Circle K stores and will be operated by Couche-Tard. The acquisition is part of Couche-Tard’s larger effort to expand its presence in the United States.
Couche-Tard’s Expansion Plans
Couche-Tard has been expanding its presence in the United States for several years. In 2020, the company acquired Holiday Stationstores, a chain of convenience stores located in the Midwest. In 2021, Couche-Tard acquired CST Brands Inc., a chain of convenience stores located in the Southwest.
The acquisition of Mapco Express is the latest in a series of moves by Couche-Tard to expand its presence in the United States. The company now operates more than 8,000 stores in the United States and Canada.
Impact of the Acquisition
The acquisition of Mapco Express by Couche-Tard is expected to have a positive impact on the company’s bottom line. The acquisition will give Couche-Tard access to a new market and will allow the company to expand its presence in the southeastern United States.
The acquisition is also expected to have a positive impact on Mapco Express. The stores will be rebranded as Circle K stores and will benefit from Couche-Tard’s expertise in convenience store operations.
Future Outlook
The acquisition of Mapco Express by Couche-Tard is part of the company’s larger effort to expand its presence in the United States. The company is expected to continue to look for opportunities to expand its presence in the United States and Canada.
The acquisition of Mapco Express is also expected to have a positive impact on the convenience store industry as a whole. The acquisition will create a larger and more competitive market, which will benefit consumers.
Conclusion
Alimentation Couche-Tard Inc., the owner of Circle K convenience stores, has acquired a portion of Mapco Express Inc. from Chilean owner Copec SA. The acquisition is part of Couche-Tard’s larger effort to expand its presence in the United States. The acquisition is expected to have a positive impact on Couche-Tard’s bottom line and will give the company access to a new market. The acquisition is also expected to have a positive impact on the convenience store industry as a whole, creating a larger and more competitive market.