Alimentation Couche-Tard (TSE:ATD) to Acquire 112 Gas, Convenience Locations from MAPCO
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Alimentation Couche-Tard (TSE:ATD) to Acquire 112 Gas, Convenience Locations from MAPCO

Story Highlights

Alimentation Couche-Tard recently reached an agreement to acquire 112 fuel and convenience locations located in the Southeastern U.S. The deal is expected to close in the second half of this year.

Earlier today, Alimentation Couche-Tard (TSE:ATD), a gas station & convenience store operator, revealed its plans to acquire 112 fuel and convenience retail locations from MAPCO Express Inc. This acquisition is dependent on a separate deal in which MAPCO’s remaining sites will be sold to an undisclosed third party.

The 112 stores being purchased are mostly located in Tennessee and Alabama, with a few more locations in Kentucky and Georgia. All of these sites are company-operated, with most of the real estate being owned outright. The agreement also encompasses extra property and a logistics fleet, according to the press release. This acquisition is anticipated to be finalized in the latter half of this year, and ATD will use cash and/or credit to fund it.

This acquisition aligns with Couche-Tard’s ongoing expansion strategy, which involves increasing its global footprint through well-thought-out acquisitions and collaborations. By adding MAPCO’s 112 fuel and convenience retail sites, Couche-Tard can further solidify its position in the Southeastern U.S. market.

Is ATD Stock a Buy, According to Analysts?

According to analysts, ATD stock comes in as a Strong Buy based on seven unanimous Buys assigned in the past three months. The average ATD stock price target of C$77.74 implies 15% upside potential.

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