Couche-Tard signs deal for up to 322 sites

Alimentation Couche-Tard Inc.  announces that it has signed, through its wholly-owned indirect subsidiary, Circle K Stores Inc. , an agreement to acquire up to 322 sites plus an additional 65 reseller contracts in Southern California from ExxonMobil. The transaction is anticipated to close in stages between the fourth quarter of the 2011 calendar year and the second quarter of 2012. The transaction is subject to regulatory approvals and closing conditions. According to a confidentiality agreement between the parties the purchase price cannot be disclosed at this time. Internal available cash dollars and the bank facilities would be used for the transaction.

Of these 322 sites, 72 are company-operated and 250 are dealer-operated. Circle K would own the real estate for up to 202 of the total number of sites. In compliance with California law, ExxonMobil will be presenting a ''bona fide'' offer to the 165 fee property dealers. Should any of those properties be purchased by the dealer, the branded supply agreement would still be assigned to Circle K. The balance of the sites would be leased. All of the stores are currently selling fuel under the Mobil brand. The transaction includes the assignment of the supply and branding contracts for Mobil branded motor fuel for 65 reseller locations. All of the 387 locations would continue to offer Mobil branded motor fuel allowing customers to continue using the ExxonMobil credit card. The company-operated sites would be operated under the Circle K brand and the entire network would be part of Couche-Tard's West Coast Division network. The dealer-operated locations would continue to be operated by current dealers.

"Subsequent to this transaction, our network in the Circle K West Coast Division would include a total of 228 company-operated, and 315 dealer or reseller-operated. These stores are high volume, high impact locations. They would significantly strengthen our overall footprint in this important market. Under our Worldwide Franchise Division we already have an additional 315 Circle K branded sites on the West Coast. We are extremely excited about the addition of these stores, employees, and dealers to our family" commented Tim Tourek, Vice-President Operations, West Coast Division.

    Couche-Tard also announces some other recent acquisition deals:
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    1. Couche-Tard signed, through its wholly-owned indirect subsidiary,
       Mac's Convenience Stores LLC, an agreement to acquire 26 company-
       operated stores operating in the Mid-Atlantic region in the United
       States. Assuming the closing of the transaction which is scheduled for
       late this summer, the Corporation would own the real estate for
       25 sites while it would lease the other one. The transaction is
       subject to standard regulatory approvals and closing conditions.
       According to confidentiality agreement between the parties no other
       information may be disclosed at this time.

    2. Couche-Tard acquired, through its wholly-owned indirect subsidiary,
       Mac's Convenience Stores Inc., 12 company-operated stores located in
       Ontario, Manitoba, Saskatchewan and British-Columbia, Canada, from
       Shell Canada Products. The Corporation owns the land and buildings for
       seven sites and leases these same assets for five sites.

    3. Through its wholly-owned indirect subsidiaries, Couche-Tard acquired -
       5 company-operated stores operating under the banner "Gas City" of
       which, one is located in Arizona and four in the Chicago area, United
       States. The Corporation acquired the land and buildings for three of
       these sites and leases the others.

on June 13, 2011