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Circle K to buy, rebrand 53 Louisiana Cracker Barrel convenience stores
Posted on 8/29/16 at 11:08 am
Posted on 8/29/16 at 11:08 am
Daily Report
Circle K, through its Canadian parent company, has struck a deal to buy 53 Cracker Barrel brand convenience stores in Louisiana—most of which are in the Baton Rouge market—the company announced this morning.
The deal, financial terms of which are not being disclosed, was reached by Alimentation Couche-Tard, a Canadian convenience store operator, of which Circle K Stores Inc. is a wholly-owned indirect subsidiary. The stores are being purchased from American General Investment and North American Financial Group and the acquisition is expected to close in in the third quarter of fiscal year 2017, subject to regulatory approvals.
“These convenience stores currently operate under the store brand Cracker Barrel and include 12 quick service restaurants. All but one of the sites offer branded motor fuels under the Shell, Chevron or Cracker Barrel brand names,” reads a press release announcing the deal. “Of the 53 sites, Couche-Tard would own the land and building for 47 locations and would assume or enter into leases for the remaining six locations.”
Following this acquisition, all of the stores will be rebranded and operated under the Circle K brand by Couche-Tard’s U.S. Division of the Gulf Coast Region.
Cracker Barrel was founded in Baton Rouge in 1968. Over five decades the company grew to have 53 stores in the Baton Rouge and Lafayette markets. In recent years, Cracker Barrel has seen its revenues decline.
“The transaction with Circle K Stores Inc represents a significant milestone in the company’s 48-year history,” says Chris Sadler, Cracker Barrel owner, in a prepared statement. “We made the difficult decision to exit the retail gasoline business but are looking forward to exploring new business opportunities for the family.”
Couche-Tard is the largest operator of convenience stores in the United States, and it also has stores in Scandinavia, the Baltic States, Ireland, Russia and Poland. As of April 24, Couche-Tard’s network comprised 7,888 convenience stores throughout North America.
Circle K, through its Canadian parent company, has struck a deal to buy 53 Cracker Barrel brand convenience stores in Louisiana—most of which are in the Baton Rouge market—the company announced this morning.
The deal, financial terms of which are not being disclosed, was reached by Alimentation Couche-Tard, a Canadian convenience store operator, of which Circle K Stores Inc. is a wholly-owned indirect subsidiary. The stores are being purchased from American General Investment and North American Financial Group and the acquisition is expected to close in in the third quarter of fiscal year 2017, subject to regulatory approvals.
“These convenience stores currently operate under the store brand Cracker Barrel and include 12 quick service restaurants. All but one of the sites offer branded motor fuels under the Shell, Chevron or Cracker Barrel brand names,” reads a press release announcing the deal. “Of the 53 sites, Couche-Tard would own the land and building for 47 locations and would assume or enter into leases for the remaining six locations.”
Following this acquisition, all of the stores will be rebranded and operated under the Circle K brand by Couche-Tard’s U.S. Division of the Gulf Coast Region.
Cracker Barrel was founded in Baton Rouge in 1968. Over five decades the company grew to have 53 stores in the Baton Rouge and Lafayette markets. In recent years, Cracker Barrel has seen its revenues decline.
“The transaction with Circle K Stores Inc represents a significant milestone in the company’s 48-year history,” says Chris Sadler, Cracker Barrel owner, in a prepared statement. “We made the difficult decision to exit the retail gasoline business but are looking forward to exploring new business opportunities for the family.”
Couche-Tard is the largest operator of convenience stores in the United States, and it also has stores in Scandinavia, the Baltic States, Ireland, Russia and Poland. As of April 24, Couche-Tard’s network comprised 7,888 convenience stores throughout North America.
Posted on 8/29/16 at 11:10 am to potent357
Taking the world over 44 ounces at a time
Posted on 8/29/16 at 11:12 am to potent357
they better be bringing these with them
Posted on 8/29/16 at 11:12 am to potent357
Good now Google Maps will only show me cracker barrel restaurants like God intended
Posted on 8/29/16 at 11:14 am to potent357
Will they be renaming them? Nothing sucks more than Wazing the nearest Cracker Barrel and ending up at a gas station.
Posted on 8/29/16 at 11:14 am to potent357
quote:
Couche-Tard
Sounds like a fun insult
Posted on 8/29/16 at 11:17 am to potent357
Circle Ks seem to be low end gas stations and attract low end customers. I tend to avoid them when I can.
Am I the only one that feels this way?
Am I the only one that feels this way?
Posted on 8/29/16 at 11:19 am to chalupa
Some are, some arent.
The Shell station near my house is definitely not low end and attract those kinds of customers.
The Shell station near my house is definitely not low end and attract those kinds of customers.
Posted on 8/29/16 at 11:20 am to chalupa
Screw this. Bring back Time Saver.
Posted on 8/29/16 at 11:21 am to potent357
Circle K and RaceTrac better sign an alliance so that they can fend off that impending Buc-ee's invasion.
Posted on 8/29/16 at 11:25 am to potent357
WaWa needs to invade this market with the quickness.
Posted on 8/29/16 at 11:26 am to chalupa
Any convenience store will have low end customers. i stop at the circle k at oak harbor every evening and I see plenty of people that are doing very well for themselves. Just keep doing 44oz fountain drinks for 0.86 and they are good in my book.
Posted on 8/29/16 at 11:31 am to jbgleason
quote:
Screw this. Bring back Time Saver.
That guy is well past that and onto his next venture. He sold thr time savers and eventually started all thr 5 min oil changes. Then he sold that and is doing whatever.
Posted on 8/29/16 at 11:46 am to potent357
The Exxon/Circe K at Highland & Perkins across from Blue Bayou had gas Friday for $1.86. The Cracker Barrel across the street it was $2.06. They have always been more expensive than their competitors.
Posted on 8/29/16 at 11:58 am to potent357
quote:
The Exxon/Circe K at Highland & Perkins across from Blue Bayou had gas Friday for $1.86. The Cracker Barrel across the street it was $2.06. They have always been more expensive than their competitors.
The price of gas all depends on when thr gas was bought. Those two gas stations get gas from the same plant. When I lives in BR ghose two stations were where I always stopped so I just went to the one with the cheaper gas. Typicalky they get their loads within a day or two of each other.
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