Couche-Tard to Acquire Irving Oil Retail Assets in Canada

Alimentation Couche-Tard Inc. has entered into a definitive agreement with Irving Oil to acquire certain retail assets in Québec and Ontario.

“The transaction includes 50 retail sites already operated by Couche-Tard under the Québec Alliance 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,” the retailer said.

The deal also includes 18 cardlock sites:16 in Québec and two in Ontario. Of these, 16 are co-located with retail sites included in the transaction and two are adjacent to sites already owned and operated by Couche-Tard. 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 transaction is subject to customary closing conditions and regulatory approvals. The sale price was not disclosed.

"This agreement builds on our longstanding relationship with Irving Oil and our experience operating these locations," said Stéphane Trudel, senior vice president of operations at Alimentation Couche-Tard. "These are markets and customers we know well. The transaction would support our continued investment in the everyday convenience experience we offer our customers."

In other recent Couche-Tard news, in September the retailer reported an increase in net earnings for the quarter ended July 19. 

The parent company of Circle K said that its net earnings were $828.5 million for the quarter, up from $782.5 million in the same period last year.

“We are encouraged by the start to fiscal 2027 and the continued progress we are making through Core + More,” said CEO Alex Miller in the release. “We delivered our fifth consecutive quarter of positive same-store merchandise sales growth in the U.S., supported by continued momentum in food, energy drinks and other nicotine products.”