Couche-Tard Acquires ExxonMobil’s On the Run Convenience Store Franchise Systems
In a business move that seems to be a great investment, Couche-Tard has agreed to acquire ExxonMobil’s On the Run convenience store franchise system in the United States and 43 of its company owned and operated sites in the Phoenix, Arizona market area. The transaction is anticipated to close in late May and is subject to standard closing conditions and regulatory approvals.
The agreement transfers to Couche-Tard the franchise agreements for approximately 450 On the Run convenience stores currently operated by ExxonMobil branded fuel dealers and distributors. These stores, located in 28 states primarily east of the Mississippi River, would continue to be operated by the franchisee dealers and distributors of ExxonMobil.
The purchase price is confidential between the parties. Couche-Tard will fund the acquisition from internal available cash dollars.
(Source) Press
Tags: acquisition, arizona market, business move, cash dollars, convenience store franchise, convenience stores, exxonmobil, franchise agreements, franchise system, franchise systems, franchisee, fuel dealers, phoenix arizona