- Alimentation Couche-Tard (ANCUF) is expected to make a play to expand its already large U.S. presence after Hess (HES) filed to spin off or sell its retail convenience store network.
- Couche-Tard has the financial wherewithal to support a deal of ~$1.5B after reducing its debt from the $3.6B purchase of Europe’s Statoil Fuel and Retail, Canaccord says, adding that Hess would help to bolster its presence in the northeast U.S.
- Oppenheimer's Fadel Gheit thinks Hess would be wiser to pursue a spinoff, since the company wouldn't pay any taxes and it would keep the Hess brand name, which has some value.
- Hess operates 1,258 fuel and food outlets from Florida to New Hampshire and is the largest Dunkin’ Donuts franchisee by number of sites.
Couche-Tard expected to bid on Hess’ U.S. retail operations
Jan 8 2014, 18:22 ET