Irving Oil enters into a definitive agreement with Alimentation Couche-Tard for the divestiture of Québec and Ontario retail sites
Saint John, NB – Irving Oil announced today that it has entered into a definitive agreement for the sale of its Québec retail assets, as well as its Ontario locations in Pembroke and Cornwall, to Alimentation Couche-Tard Inc. (“Couche-Tard”).
Irving Oil’s Québec and Ontario retail network comprises 50 retail sites already operated by Couche-Tard under an agreement between Irving Oil and Couche-Tard, as well as two retail sites in Pembroke and Cornwall, Ontario, already operated by Couche-Tard. It also covers fuel supply to 71 retail sites owned and operated by Couche-Tard in Québec. Existing Irving Oil fleet customers will continue to be served at these locations under a long-term agreement between Couche-Tard and Irving Oil.
The sale is subject to customary closing conditions and regulatory approvals.
About Irving Oil
Irving Oil is a privately held international energy company. For more than 100 years, our commitment to doing good business has been grounded in our commitment to people – to our employees, customers, communities and partners. Founded in 1924, our mission is focused on our continued evolution to meet the changing needs of our customers. Specializing in the refining and marketing of finished energy products, we operate Canada’s largest refinery in Saint John, New Brunswick, and Ireland’s only refinery, located in the village of Whitegate. We proudly serve customers through more than 1,000 fuelling locations supported by a network of distribution terminals spanning Eastern Canada, New England and in Ireland, operating under the Top brand. Named one of Canada’s Top 100 Employers for 10 consecutive years and one of Canada’s Top Employers for Young People, we are proud of our team and our longstanding commitment to our customers and our communities. Learn more at www.irvingoil.com.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and mobility, operating in 27 countries and territories, with more than 17,200 stores, of which approximately 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of the People's Republic of China. Approximately 145,000 people are employed throughout its network.