Convenience Store News

NOV 2016

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18 Convenience Store News | NOVEMBER 2016 | WWW.CSNEWS.COM INDUSTRY ROUNDUP CST Brands Inc. shareholders will vote on the com- pany's proposed acquisition by Alimentation Couche- Tard Inc. on Nov. 16 at CST's San Antonio headquar- ters. The vote will take place at 9 a.m. local time. Laval, Quebec-based Couche-Tard, parent of the global Circle K brand, announced on Aug. 21 its acquisition of CST Brands for $48.53 per share, or approximately $4.4 billion, pending shareholder approval and government regulatory approval in Canada and the United States. In most cases, shareholders overwhelmingly approve such merger deals during special meetings. However, in this case, multiple parties have filed law- suits to prevent the merger, with the main objection being an allegation that the purchase price is too low. If approved by CST shareholders and government agencies, the acquisition is expected to be completed in early 2017. eye on growth n Nouria Energy Corp. completed an acquisition of F.L. Roberts & Inc. for an undisclosed sum. The transaction involved 26 convenience store loca- tions with fuel, including two truck stops, 22 Golden Nozzle car washes, and a diner. n CrossAmerica Partners LP sealed its deal to acquire State Oil's retail assets and wholesale fuels distribution for $43.1 million. The portfolio included three company-operated stores, 50 les- see dealers, 24 supply accounts, two non-fuel tenant locations, and three non-operating sites. n Alta Convenience Stores parent Western Alta Holdings LP Co. acquired the retail division and operating company of Pester Marketing Co. from World Fuel Services Corp. The c-stores will operate under the Alta Convenience brand name. n Sunoco LP finalized a $53-million transaction with Denny Oil Co. The deal included Denny Oil's Check Point conve- nience store chain, along with its network of company-owned, dealer- operated convenience stores. n GPM Investments LLC expanded its footprint with the closing of the acquisition of 17 c-store/gas station locations and one standalone car wash from Jiffi Stop Stores. The locations will continue to operate under the current Jiffi Stop brand name. n Empire Petroleum Partners LLC bought the wholesale distribution rights of Sunshine Fuel LLC in Missouri, Oklahoma and part of Kansas. The addition of these accounts gives Empire entry into new markets. n Street Corner opened an "urban superette" concept in Chattanooga, Tenn. Billing itself as a "fresh market," the store features a deli, salad bar and other fresh-food offerings. CST Shareholders Prepare to Vote on Couche-Tard Merger

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