Canadian convenience store giant Alimentation Couche-Tard has agreed on a deal with oil major TotalEnergies to take control of 2,193 petrol stations operating across Europe.
The $3.1bn transaction will see Couche-Tard buy all of TotalEnergies’ service stations in Germany (1,195) and the Netherlands (387), as well as purchasing a 60% stake in the French company’s sites in Belgium (556) and Luxembourg (45).
Couche-Tard plans to turn them into food and services forecourt hubs.
“We see this as a strong geographical fit with our existing European network, which will allow us to grow together in some of Europe’s strongest economies and move forward in our vision to become the world’s preferred destination for convenience and mobility,” said Brian Hannasch, Chief Executive of Alimentation Couche-Tard.
Patrick Pouyanné, CEO of TotalEnergies, added: “In Europe, the transformation of mobility is changing the way customers use service stations. This deep trend means that new services and new activities need to be developed, notably in the stores. Service stations must expand from just selling fuel to become full-fledged service hubs. For this reason, TotalEnergies has decided to partner with Couche-Tard and tap into its recognized expertise in operating convenience stores in service stations.”
The deal is subject to a consultation process involving employee bodies and the approval of relevant authorities.
Couche-Tard has been seeking to expand in Europe since its bid for Carrefour failed in 2021 due to opposition from the French government.
NAM Implications:
- Patently, a revolution in forecourt retail space is underway.
- Time for suppliers to climb on board an experienced driver…
- …and secure their fair share of the action.
