Canadian firm Alimentation Couche-Tard Inc. will purchase 23 Circle K branded convenience store in New Mexico.
As one of the largest independent convenience store operator in the U.S., Couche-Tard also operates in Europe. Albuquerque Convenience and Retail currently still own the 23 stores up for purchase.
“Subsequent to this transaction, our network in the Southwest division would include a total of 271 company operated-stores and six locations under wholesale or franchise agreements. These stores occupy strategic locations within their respective trade areas. Strategically, this acquisition would be a great addition to our expansion and growth plans for the Southwest division,” said Lou Valdes, vice president of operations, Southwest division, in a news release.
The purchase price for the convenience stores was not disclosed.
Couche-Tard expects the transaction to be completed and processed by December.