TotalEnergies Acquisition by Alimentation Couche-Tard Officially Completed

Alimentation Couche-Tard has successfully concluded its acquisition of specific European retail assets from TotalEnergies, marking the fulfillment of the deal announced in March 2023. This strategic move involves acquiring the entirety of TotalEnergies' retail assets in Germany and the Netherlands, along with a significant 60% controlling interest in entities located in Belgium and Luxembourg. The acquired retail assets encompass a total of 2,175 sites, distributed across Germany (1,191 sites), Belgium (562 sites), the Netherlands (378 sites), and Luxembourg (44 sites). Of these, the majority, constituting 69%, are company-owned, while the remaining 31% are dealer-owned.

Expressing his enthusiasm for this momentous development, Brian Hannasch, the President and CEO of Couche-Tard, highlighted the company's entrance into four new countries and the considerable expansion of its presence in Europe. In his statement, Hannasch extended a warm welcome to the new team members and stores, emphasizing the alignment of these additions with the values and culture of Couche-Tard.

This acquisition is in line with Couche-Tard's overarching growth strategy, fortifying its foothold in the European market. Prioritizing successful integrations and the utilization of local talent, the company aims to elevate its operations and deliver lasting value as it extends its geographical reach.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, provided insights into the rationale behind this collaboration when the acquisition was first unveiled in March. Pouyanné underscored the evolving dynamics of customer behavior at service stations in Europe, shaped by the transformation in mobility. Recognizing this shift, TotalEnergies opted to partner with Couche-Tard, leveraging the latter's well-established expertise in operating convenience stores within service stations.

Pouyanné expressed delight at Couche-Tard applying its know-how to the 2,200 service stations in Western Europe, foreseeing a mutually beneficial collaboration. The Chairman and CEO emphasized the strategic significance of uniting forces with Couche-Tard in Belgium and Luxembourg, where TotalEnergies holds a prominent market leadership position. Pouyanné expressed confidence that this forward-looking move would result in a successful partnership marked by mutual gains and a positive trajectory for both companies.

As Alimentation Couche-Tard solidifies its presence in the European markets through this acquisition, the company's leadership remains optimistic about the potential for growth. They underscored the collaborative efforts with local talent and the integration of these new assets into the broader Couche-Tard family. The strategic alignment of expertise and resources between Couche-Tard and TotalEnergies positions both companies for success in navigating the evolving landscape of convenience retail within the European context.