Aug. 19, 2024 - Following the Canadian Competition Bureau’s 2023 Retail Grocery Market Study in which it recommended that provincial and territorial governments take measures to limit property controls in the grocery industry, including banning their use, the Bureau recently released for public comment a...
Couche-Tard Acquiring CST Brands for US$4.4 Billion
Davies represented Alimentation Couche-Tard Inc. (ACT), a leader in the Canadian convenience store industry, in its acquisition of CST Brands, Inc. for US$4.4 billion and its subsequent sale of a portion of CST Brands’ Canadian assets to Parkland Fuel Corporation for US$750 million.
The acquisition positioned ACT as the largest retail fuel and convenience store owner and operator in North America and the second largest in the world behind 7-Eleven. After closing on June 28, 2017, ACT became one of the largest Canadian companies by revenue.
The Davies team on this transaction included Sébastien Thériault, Richard Cherney, Véronique Gaumond-Carignan (M&A); Olivier Désilets and Christine Lenis (Capital Markets); Andrea Dupuis, Shayna Goldman and Alyssa Wiseman (Corporate); George Addy, Adam Fanaki, Charles Tingley, Badar Yasin, David Feldman and Alysha Manji-Knight (Competition); Marie-Emmanuelle Vaillancourt (Tax); and Louise Patry (Employment).
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