Couche-Tard Makes Billion-Dollar Acquisition of GetGo

Deal News | Dec 10, 2024 | EIN

The article provides an overview of the major mergers and acquisitions in the convenience store (c-store) industry throughout 2024, highlighting several significant deals. Alimentation Couche-Tard's $1.6 billion acquisition of GetGo is described as the largest in the industry for the year, enhancing Couche-Tard’s operations in foodservice and loyalty programs. Mexican company FEMSA makes its long-awaited entry into the U.S. with a $385 million purchase of Delek US Holdings' convenience stores. 7-Eleven completed its acquisition of 204 Stripes stores, marking expansion in Texas, New Mexico, and Oklahoma. Meanwhile, Casey’s General Stores purchased Fikes Wholesale for over $1.1 billion, representing its largest acquisition, and H&S Energy doubled its size by acquiring Andretti Petroleum Group. Lastly, Nouria Energy’s acquisition of Enmarket expands its reach into the southeastern United States. These moves illustrate ongoing consolidation and strategic expansion efforts amidst challenging economic conditions for the industry.

Sectors

Convenience Store Industry
Retail Industry

Geography

United States – Many of the deals mentioned, such as FEMSA's, 7-Eleven's, and Casey's acquisitions involve companies and assets in the United States.
Mexico – FEMSA, a leading Mexican retailer and new entrant into the U.S. convenience store market, plays a significant role in the article.
Canada – Couche-Tard, a significant player in the article, is a Canadian company making one of the largest acquisitions discussed.

Industry

Convenience Store Industry – The article discusses several mergers and acquisitions within the convenience store industry, involving key players and transactions in this sector.
Retail Industry – The article is heavily focused on the retail aspect of convenience stores, showcasing how retail dynamics are shifting with acquisitions and brand expansions.

Financials

$1.6 billion – Acquisition price of GetGo by Couche-Tard.
$385 million – Acquisition price of Delek's convenience stores by FEMSA.
$1 billion – Acquisition price of Stripes stores by 7-Eleven.
over $1.1 billion – Acquisition price of Fikes Wholesale by Casey's General Stores.

Participants

Name	Role	Type	Description
Alimentation Couche-Tard	Acquirer	Company	Owner of Circle K, acquiring GetGo Caf + Markets as part of a major growth strategy.
GetGo Caf + Markets	Target Company	Company	The convenience store arm of Giant Eagle, acquired by Couche-Tard.
Fomento Econmico Mexicano S.A.B. de C.V. (FEMSA)	Acquirer	Company	Mexican retailer entering U.S. market through acquisition of Delek's convenience stores.
Delek US Holdings	Seller	Company	Sold its entire network of 249 convenience stores to FEMSA.
7-Eleven	Acquirer	Company	Acquired 204 Stripes stores, expanding its existing operations.
Sunoco	Seller	Company	Sold the Stripes convenience stores to 7-Eleven.
Caseys General Stores	Acquirer	Company	Acquired Fikes Wholesale's CEFCO Convenience Stores, marking the company's largest acquisition.
Fikes Wholesale	Target Company	Company	Parent company of CEFCO Convenience Stores, acquired by Casey's.
H&S Energy	Acquirer	Company	Expanded its retail presence by acquiring Andretti Petroleum Group.
Andretti Petroleum Group	Target Company	Company	Provider of convenience retail sites and gas stations, acquired by H&S Energy.
Nouria Energy	Acquirer	Company	New England retailer extended operations by acquiring Enmarket.
Enmarket	Target Company	Company	Southeastern convenience store operator acquired by Nouria Energy.