Canadian-based convenience store operator Alimentation Couche-Tard Inc. announced on Friday that it has acquired 12 stores in the Indianapolis area from Crystal Flash Petroleum LLC.
Terms of the deal were not disclosed. But a press release issued by Couche-Tard said the transaction, expected to close in September, will be funded by “internal available” cash.
Couche-Tard said the purchase was made through its subsidiary, Mac’s Convenience Stores LLC. The stores will be operated by Couche-Tard’s Midwest division under the Circle K brand. The company said it will buy the land and buildings for one location and will assume, or enter into, leases for the other locations.
“These stores are located on highly visible and well-traveled roads and occupy strategic locations within their respective trade areas,” Darrell Davis, Midwest division vice president of operations, said in a written statement. “These stores would be an excellent fit within our existing Indianapolis market.”
With 5,869 stores, Couche-Tard is the largest independent convenience store operator in North America.
Crystal Flash Petroleum is a family-owned business founded by John E. Fehsenfeld in 1930, according to the company’s Web site. At its founding, the company sold one product: axle grease. The company operates more than 20 convenience stores in the Indianapolis area.