Alimentation Couche-Tard Inc.OTCPK - Current
Thu, Oct. 13, 9:11 AM
- As the new threat of Amazon tiptoes into the $575B convenience store industry, GasBuddy puts it into perspective.
- CEO Walt Doyle tells Seeking Alpha that 80% of U.S convenience store sell gasoline. Those 124,374 stores have a clear advantage over a brick-and-mortar play by Amazon.
- "Gas station convenience stores have evolved to providing more amenities and products like groceries and food, to fit the growing needs of the consumer," he notes.
- Major c-store operators in the U.S. include Kroger (NYSE:KR), Casey's General Stores (NASDAQ:CASY), CST Brands (NYSE:CST), Alimentation Couche-Tard (OTCPK:ANCUF), Murphy USA (NYSE:MUSA), Marathon Petroleum (NYSE:MPC), 7-Eleven, Kum & Go, QuikTrip and Sunoco (NYSE:SUN).
- Previously: Amazon threat lingers over C-stores, drug stores and grocery chains (Oct. 11)
Tue, Aug. 30, 9:18 AM
Tue, Aug. 30, 8:54 AM
Mon, Aug. 22, 12:46 PM
- Moody's affirms a Baa2 rating on Alimentation Couche-Tard's ([OTCPK:ANCUF, OTC:ANCTF) senior notes after factoring in the sizable acquisition of CST Brands.
- "The Baa2 rating has been affirmed and the stable outlook maintained because ACT has a proven track record of acquiring and integrating acquisitions and Moody's believes the CST acquisition is strategically appropriate," says Moody's analyst Peter Adu.
- "While leverage will materially increase, ACT generates significant free cash flow and will reduce debt quickly as it has demonstrated in the past," adds Adu.
- Moody's press release
Mon, Aug. 22, 10:50 AM
- Alimentation Couche-Tard (OTCPK:ANCUF, OTC:ANCTF) says it struck a deal with Parkland Fuel to sell some Canadian assets of CST Brands (CST +0.2%), including convenience stores operated by CST and the Cardlock business.
- The number of stores that will be involved will be determined after the transaction is reviewed by the Competition Bureau of Canada.
- Couche-Tard press release (.pdf)
- Previously: Alimentation Couche-Tard acquires CST Brands in $4.4B deal (Aug. 22)
Mon, Aug. 22, 7:09 AM
- CST Brands, Inc. (NYSE:CST) announces it accepted a buyout offer from Alimentation Couche-Tard Inc. (OTCPK:ANCUF) at $48.53 per share.
- The deal represents a total enterprise value of approximately $4.4B, including the assumption of debt.
- “After the Board’s comprehensive review of strategic alternatives to enhance stockholder value, we are pleased to reach this agreement with Couche-Tard, which we expect to provide immediate and compelling value to our stockholders,” said CST CEO Kim Lubel.
- After the deal closes, Circle K will establish a new business unit in San Antonio.
- Couche-Tard expects to finance the transaction with available cash, its existing credit facilities, and a new term loan.
- The transaction is currently expected in the early part of 2017, subject to the approval of CST's stockholders and regulatory approvals in the U.S. and Canada.
- Source: Press Release
Tue, Aug. 16, 3:48 PM
- Alimentation Couche-Tard (OTCPK:ANCUF) confirms it's in talks with a third party over an acquisition.
- The development follows very closely on yesterday's Wall Street Journal report indicating that the company has serious interest in CST Brands (CST +6.7%).
- Buzz over a deal helped push CST to an all-time high of $48.31.
- Previously: WSJ: Couche-Tard near deal to buy CST Brands (Aug. 15)
Mon, Aug. 15, 10:13 PM
- Circle K owner Alimentation Couche-Tard (OTCPK:ANCUF) is nearing a deal to buy fuel and convenience store chain CST Brands (NYSE:CST), with an announcement possible as soon as this week, WSJ reports.
- The price of the acquisition is not clear, but CST has a market value of ~$3.4B and is the second largest publicly traded fuel and convenience retailer in North America.
- Earlier this year, CST said it had hired bankers to explore strategic options amid pressure from activist shareholders.
Tue, Jul. 12, 8:37 AM
Thu, Jun. 2, 5:09 PM
- CST Brands (NYSE:CST) surged more than 18% higher in today's trade following a Reuters report that Canada's Alimentation Couche-Tard (OTCPK:ANCUF) and Japan's Seven & I Holdings (OTCPK:SVNDY), owner of the 7-Eleven chain, have submitted indicative offers to acquire the U.S. convenience store retailer.
- The two groups are competing against several other bidders for CST, including a consortium of P-E firms Blackstone (NYSE:BX) and Apollo Global Management (NYSE:APO), according to the report.
- CST reportedly will seek at least one more round of offers before deciding if will sell itself.
Tue, Apr. 19, 3:21 PM
- CST Brands (CST +0.5%) isn't actively seeking a buyer, according to CTFN.
- Analysts think the company will show patience as it evaluates options, especially with activist investors watching closely.
- Two companies identified as potential bidders down the road are Couche-Tard (OTCPK:ANCUF, OTC:ANCTF) and Sunoco.
- Now read Couche-Tard Rolling In The Dough
Fri, Mar. 11, 11:19 PM
- Energy Transfer Equity (NYSE:ETE) has held talks to sell gas station and convenience store operator Sunoco (NYSE:SUN), in a deal that could fetch more than $2B, Reuters reports.
- A 36.4% stake in the limited partnership in SUN owned by Energy Transfer Partners (NYSE:ETP) also would have been divested, according to the report.
- While the discussions were preliminary, they show ETE's efforts to improve its balance sheet after the plunge in oil prices made its pending acquisition of Williams Cos. (NYSE:WMB) more financially burdensome than it had expected.
- The talks about a sale reportedly did not advance further because of disagreements over SUN's valuation, but ETE could still revisit the issue if it receives new interest.
- Mentioned in the report as potential buyers of SUN's network of 900 convenience stores and fuel outlets are Valero Energy (NYSE:VLO), Tesoro (NYSE:TSO) and Alimentation Couche-Tard (OTCPK:ANCUF).
Tue, Mar. 8, 5:38 PM
- Imperial Oil (NYSEMKT:IMO) agrees to sell its 497 Esso retail gasoline stations to five Canadian distributors for C$2.8B ($2.1B).
- Among the distributors involved in the sale, Alimentation Couche-Tard (OTCPK:ANCUF) buys 279 stations in Ontario and Quebec, 7-Eleven Canada Inc. buys 148 stations in Alberta and British Columbia, and Parkland Fuel (OTCPK:PKIUF) picks up 17 stations in Saskatchewan and Manitoba.
- IMO, which is majority-owned by Exxon Mobil (NYSE:XOM), says it expects the sales to close by year-end.
Dec. 10, 2015, 6:16 PM
- Marathon Petroleum's (NYSE:MPC) Speedway, Sunoco (NYSE:SUN) and Alimentation Couche-Tard (OTCPK:ANCUF) are among various groups interested in a potential acquisition of convenience store operator CST Brands (NYSE:CST), according to TheStreet.com.
- The report comes a day after Engine Capital sent a letter to CST's board requesting action to improve the company's business operations or launch a review of strategic alternatives, including the exploration of a sale.
Jun. 18, 2015, 3:45 PM
- A strategic deal between Target and CVS Health to place CVS MinuteClinics inside of Target stores could have an impact in the convenience store sector, observes CSP Daily News.
- If the large-scale deal is replicated with other retailer-drugstore combinations, consumers may shift some spending habits.
- C-stores have seen strong traffic trends this year.
- Convenience store operators: Circle K (OTCPK:ANCUF), 7-11, CST Brands (NYSE:CST), Murphy USA (NYSE:MUSA), Pantry (OTCPK:ANCUF), BP Connect (NYSE:BP), On the Run (NYSE:XOM), Speedway America (NYSE:MPC), Kwik Shop (NYSE:KR), Casey's General Stores (NASDAQ:CASY), and Qwiktrip.
- Previously: Target and CVS Health sign major partnership (Jun. 15 2015)
May 18, 2015, 10:58 AM
- Imperial Oil (IMO -1.1%) is moving forward on plans to sell ~500 of its remaining company-owned Esso retail sites in Canada and has begun to accept proposals from interested bidders, Reuters reports.
- Parties interested in the assets include Parkland Fuel (OTCPK:PKIUF), Alimentation Couche-Tard (OTCPK:ANCUF) and CST Brands (NYSE:CST), all of which already operate Esso-branded gas stations in the country.
- Analysts say the sites could be worth upwards of C$2M per station, implying that proceeds from the sale could top C$1B ($831M); most of the assets are located in densely populated, high-traffic urban areas and many had car washes and Tim Hortons outlets.