Circle K owner buys Big Red convenience store chain

by Talk Business & Politics staff ([email protected]) 5,629 views 

Alimentation Couche-Tard Inc. announced Monday (Feb. 27) it will acquire 45 fuel and convenience retail sites from Big Red Stores, an Arkansas-based company originally founded in 1997 by Doug and David Hendrix.

Terms of the transaction were not disclosed.

Couche-Tard is an international convenience and fuel retail operation with more than 14,000 stores and 122,000 employees in 24 countries and territories, according to its website.

It operates stores under the Circle K and Couche-Tard banners. The Arkansas Big Red stores will be rebranded Circle K stores.

The deal includes Big Red sites across the state of Arkansas. All 45 sites are company-owned, company-operated sites of which real estate is owned for 44 sites and leased for one site.

The network predominately features large format stores that have ample space for enhanced foodservice and product offerings, Alimentation Couche-Tard officials said.

The transaction is expected to close in the first half of calendar year 2023, subject to standard regulatory approvals and closing conditions and will be financed using the corporation’s available cash and existing credit facilities.

“We are very pleased to add Big Red Stores’ high-quality locations to our footprint in the state of Arkansas. Doug and David built an exceptional network of stores and people, and we believe our values are congruent with the culture they’ve spent a quarter-century building. We are honored to be stewards of their legacy,” said Alex Miller, Couche-Tard’s Chief Operating Officer. “As we expand our presence in the area, we look forward to bringing the Circle K experience to new customers and making their lives a little easier every day.”