Canadian convenience chain Couche-Tard has acquired 29 forecourt locations in Florida from Florida Oil Holdings.
The acquisition was made through Couche-Tard's wholly-owned subsidiary Circle K Stores for an undisclosed sum. It is expected to close by the end of the month.
The company plans to convert the Orlando sites to the Circle K banner and the move would bring the group's total store count in Florida to 406 locations.
The deal will be funded through cash on hand and available credit facilities, the company said in an announcement today (14 August).
"This is a great opportunity for the Florida division to strengthen our market share in the Orlando market. The assets are very high quality and are great locations," David Morgan, vice-president operations for Couche-Tard's operations in Florida, said.
