Alimentation Couche-Tard and Majors Management have completed their transactions and finalized their acquisition of MAPCO Express and its assets from previous owner Compañía de Petróleos de Chile S.A. (COPEC). The deal was originally announced In April of this year.
The Couche-Tard transaction includes 112 fuel and convenience retail sites, as well as surplus property and a logistics fleet. In the April announcement, Couche-Tard said the transaction includes a network of modern, high-quality, convenient sites in attractive and desirable markets.
"We are pleased to welcome these MAPCO stores and their great team members into the Couche-Tard family and look forward to their integration," said Alex Miller, chief operating officer at Couche-Tard. "As we continue to grow our presence across the Southern United States, we are excited to bring the Circle K experience to new customers in Georgia, Tennessee, Alabama and Kentucky."
The Majors Management transaction includes 192 Mapco-branded c-stores in Tennessee, Alabama, Georgia, Mississippi, Arkansas and Kentucky. Majors will also acquire MAPCO’s wholesale fuel division, loyalty program, brand and other intellectual property.
"The acquisition of MAPCO aligns perfectly with our long-term growth and expansion plans,” said Ben Smith, Majors’ president. “We are confident that this transaction will bring together the strengths and expertise of two industry leaders to better serve the evolving needs of customers and markets.”
“We are committed to growing the MAPCO brand and loyalty program and keeping Mapco's highest standards of service and quality to customers,” he added.
Alimentation Couche-Tard Inc. operates in 24 countries and territories with more than 14,300 stores, of which approximately 10,900 offer road transportation fuel. Under the Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States.
Full article at MAPCO Express Acquisition Closed | NACS (convenience.org)
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