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Couche-Tard to draw on credit facilities to fund purchase of 53 stores
By Tali Rackner
Norfolk, Va., Aug. 29 – Alimentation Couche-Tard Inc. plans to use its existing credit facilities to finance wholly owned indirect subsidiary Circle K Stores Inc.’s purchase of 53 sites held by American General Investments, LLC and North American Financial Group, LLC, according to a press release.
The sites are located primarily in the Baton Rouge market in Louisiana. They currently operate under the store brand “Cracker Barrel” and include 12 quick service restaurants.
The transaction is anticipated to close in the third quarter of Couche-Tard's fiscal year 2017.
The purchase price was not disclosed.
Alimentation Couche-Tard is a Quebec-based convenience store operator.
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