The Little-Known Canadian Convenience Store Chain That Hopes To Dominate Asia
Canada-based Alimentation Couche Tard Inc (TSE: ATD.B) evolved from just one small store in a Montreal suburb in 1980 to become one of the biggest convenience store operators in the world through a series of acquisitions, including Circle K in the United States.
But now Couche Tard, a french acronym that directly translates to sleep late, is looking to expand into the Thai and Indian markets, Bloomberg reported. The company's co-founder and chairman Alain Bouchard said during a meeting with shareholders on Tuesday it's not only reviewing strategies to enter the Thai and Indian market but looking to expand its presence in southern China.
Couche Tard's history of global acquisitions is filled with multiple billion dollar deals. In 2012, it paid $2.8 billion to acquire Statoil ASA(ADR) (NYSE: STO)'s fuel and retail network that consists of 2,700 full-service and automated stations across Europe. The biggest acquisition based on dollar amount is a $3.8 billion acquisition of CST Brands, which gave the Canadian company access to close to 1,300 new American stores.
Acquisitions are very much "part of our DNA," the company's CEO Brian Hannasch told Bloomberg. And there are still plenty of opportunities ahead for new and large deals not only in Asia, but across its home base of North America, Europe and Mexico.
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