FINANCE

Casey’s to buy Illinois c-stores

BY CSA STAFF

Ankeny, Iowa Casey’s General Stores, fresh from fending off a takeover by Canadian c-store operator Alimentation Couche-Tard, said late Tuesday it will acquire up to 19 convenience stores in Illinois owned by Harper Oil Co.

The c-stores, branded On the Way, will be rebranded as Casey’s. The deal is slated to close in early November; terms were not disclosed.

The remaining Harper’s stores in Illinois will remain under Harper Oil’s ownership.

Casey’s recently rejected Couche-Tard’s latest offer of $2 billion. 7-Eleven is offering $2.04 billion and Casey’s is said to be in continuing talks with the chain regarding a buyout.

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Walmart to sell Apple’s iPad

BY CSA STAFF

Bentonville, Ark. Walmart will start selling Apple’s iPad in some stores by Friday and in a majority of locations by the height of the holiday shopping season.

The chain will sell the iPad at Apple’s suggested retail price, which range from $499 to $829 depending on the model. It will be available online but must be picked up at stores.

Target began selling the iPad earlier this month and Best Buy Co. has carried the computer tablet since it came out in April.

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Dollar Tree moves beyond border

BY CSA STAFF

The acquisition of 85 Dollar Giant stores in Canada by Chesapeake, Va.-based Dollar Tree gives the company its first international exposure and a potential new avenue of growth. Dollar Tree currently operates 3,961 stores in 48 U.S. states.

“I am excited about the opportunity to expand our presence into Canada,” said Bob Sasser, Dollar Tree president and CEO. “Dollar Giant is an excellent fit for us. This acquisition will enable us to further leverage our resources and infrastructure to offer more value to more customers. It provides Dollar Tree with an outstanding platform for significant, profitable growth in the Canadian market.”

Both companies are single price point retailers. Merchandise sold at Dollar Tree is offered for $1 or less while Dollar Giant sells for $1.25 in Canadian dollars.

Dollar Tree said it expects to complete the $52 million acquisition by mid-November.

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