Alimentation Couche-Tard has reached an agreement to acquire 112 fuel and convenience retail sites from Mapco Express — predominantly in Tennessee and Alabama with some in Kentucky and Georgia. The acquisition is contingent on a separate transaction in which Mapco and its remaining locations and assets will be sold to Majors Management.
All of the locations to be acquired by Alimentation are company-operated, most of the real estate is company-owned and the deal also includes surplus property and a logistics fleet. Alimentation plans to rebrand the stores as Circle K locations. The transaction is expected to close in the second half of 2023, subject to standard regulatory approvals and closing conditions. Financial details of the deals were not available.
“We are delighted to add MAPCO’s high-quality sites to our footprint in the Southeastern U.S.,” said Alex Miller, COO at Alimentation Couche-Tard in a statement. “As we continue to grow our presence in the region, we look forward to bringing the Circle K experience to new customers and making their lives a little easier every day.”
Majors Management has entered a separate deal to acquire the Mapco My Reward$ loyalty program, the Mapco brand and an unspecified number of fuel and retail sites located mostly in Tennessee, Alabama, and Georgia. This transaction also is expected to close in the second half of 2023, subject to standard regulatory approvals and closing conditions.
“We are thrilled to bring the Mapco and Majors’ teams together,” said Ben Smith, President of Majors Management in a statement. “We are honored to maintain and grow the Mapco brand, and we are excited to serve Mapco’s customers and uphold and build upon the culture of operational excellence at Mapco.”
As of 2022, Mapco operated an estimated 370 locations, according to AggData.