Canada's Couche-Tard buys Texas Star convenience stores
(Reuters) - Canadian convenience store operator Alimentation Couche-Tard Inc ATDb.TO said it would buy all stores operated under the Texas Star brand from Texas Star Investments Inc and its affiliates.
The assets include 18 convenience stores, two free-standing Subway stores and a dealer fuel supply network in the southern part of Texas, Couche-Tard said on Wednesday.
These convenience stores offer Shell (RDSa.L: Quote) and CITGO branded motor fuels.
After the deal, all Texas Star stores will be operated under Circle K brand by Couche-Tard's U.S. Southwest segment.
Couche-Tard bought the retail, commercial fuel and aviation businesses of Royal Dutch Shell in Denmark this year.
Laval, Quebec-based Couche-Tard also bought U.S. company Pantry Inc PTRY.O for about $861 million last year, to position itself as one of the top convenience store operators in North America.
The Texas Star deal is expected to close in the second half of Couche-Tard's fiscal year 2016.
Both the companies have agreed not to disclose the purchase price for this acquisition.
(Reporting by Sneha Banerjee in Bengaluru; Editing by Don Sebastian)
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