A man passes by a Couche-Tard convenience store in Montreal, in this file photo.Graham Hughes/The Canadian Press
Alimentation Couche-Tard Inc. continues its growth trajectory in Europe with a deal to buy 23 convenience stores and fuel stations in Estonia.
Laval, Que.-based Couche-Tard said on Monday it has struck an agreement to acquire the majority of the assets operated under the Premium 7 brand from Sevenoil Est OU and its affiliates.
The purchase price was not disclosed.
The agreement follows on other European acquisitions, including a deal late last year to buy the Topaz chain in Ireland and a deal prior to that to buy Royal Dutch Shell PLC's retail and other businesses in Denmark.
Couche-Tard, which operates outside of Quebec under the Circle K brand, has been a major international consolidator in the still-fragmented convenience-store industry; it is a major player in the United States and also has a presence in Asia, South America and the Middle East.
The company expanded significantly into Europe in 2012 with the acquisition of Norwegian oil giant Statoil ASA's retail operations.
Currently, Couche-Tard is reported to be among several bidders vying to acquire San Antonio, Texas-based CST Brands Inc.
With the closing of the Premium 7 deal, Couche-Tard would have a total of 77 company operated stores and fuel stations in Estonia. Couche-Tard would buy the land and buildings for the 23 new locations.
Following the acquisition, all the sites would be operated under the Statoil brand and within a year rebranded and operated under the Circle K moniker by Couche-Tard's Estonian business unit, the company said.