A $4.4 billion buyout involving a convenience store giant in Canada means the local Valero Corner Store locations will become Circle K outlets in the near future, with a color scheme of red, white and orange. The buyer, Couche-Tard, plans no changes in the management or staffing of the stores.
Circle K once had a prominent presence in Waco and other communities in Texas but left the local market shortly before 7-Eleven began to re-enter Greater Waco. But Circle K now belongs to Alimentation Couche-Tard Inc., based in Quebec, Canada, which wants to make its presence felt in the Sun Belt of the United States, especially Texas.
Couche-Tard announced it would pay cash to acquire San Antonio-based CST Brands Inc., which controls 2,000 convenience stores, including about 200 with the Valero Corner Store brand. The transaction awaits regulatory approval, Couche-Tard spokeswoman Karen Romer said.
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