Alimentation Couche-Tard announced on Thursday that it had reached an agreement to buy some 2,200 stores belonging to TotalEnergies in Europe, a transaction valued at 4.5 billion Canadian dollars.
The acquisition will allow the Laval convenience store chain to add 1,195 establishments in Germany, 566 in Belgium, 387 in the Netherlands and 45 in Luxembourg to a network that already has more than 14,300 stores in 24 countries and territories.
“We are very pleased to welcome TotalEnergies employees and stores to the Couche-Tard family,” Couche-Tard CEO Brian Hannasch said in a statement.
“We see a strong geographic fit with our existing European network, which will allow us to grow together within Europe’s strongest economies and advance our vision of becoming the preferred destination for the purchase of goods and for mobility around the world. »
This announcement coincides with the presentation of quarterly results below analysts’ expectations. Adjusted earnings per share for November, December and January were 74 cents, while experts expected 79 cents.