Couche-Tard in deals to acquire 36 U.S. stores
Laval, Quebec City — Canadian convenience store giant Alimentation Couche-Tard Inc. announced t it has signed, through its wholly-owned subsidiary Circle K Stores Inc., an agreement with Albuquerque Convenience and Retail to acquire 23 stores in New Mexico. Albuquerque Convenience and Retail is subsidiary of Phillips 66 Company.
In addition Couche-Tard has signed an agreement, also through Circle K Stores, with Publix Super Markets Inc. to acquire 13 stores, 11 of which are located in the state of Florida and the other two in state of Georgia. Both transactions are expected to close in December 2013.
The sites in New Mexico are currently operated as Circle K branded franchises. Couche-Tard’s Southwest division would operate all 23 of them under the Circle K brand and continue to offer Phillips 66 branded motor fuel. Seventeen sites are equipped with car washes. Pursuant to this transaction, Couche-Tard would buy the land and buildings for 22 locations and would assume or enter into leases for the remaining location.
"Subsequent to this transaction, our network in the Southwest division would include a total of 271 company operated-stores and 6 locations under wholesale or franchise agreements. These stores occupy strategic locations within their respective trade areas. Strategically, this acquisition would be a great addition to our expansion and growth plans for the Southwest division." commented Lou Valdes, VP, operations, Southwest Division.
The stores in Florida and Georgia are currently operated under the PIX brand. They would be converted to the Circle K brand.
"Subsequent to this transaction, our networks in the Florida division would include a total of 414 company operated-stores and the Southeast division would include a total of 279 company operated-stores. These stores occupy strategic locations within their respective trade areas. Strategically, these acquisitions would be a great addition to our expansion and growth plans for these divisions." commented Butch Seber, VP, real estate development.
Report: Tech giant Intel plans pop-up stores
Santa Clara, Calif. – Multiple media reports indicate that computer chip manufacturer Intel plans to open a number of pop-up stores selling electronic devices using Intel chips. John Wallace, business line manager of mobile and communications for Intel, announced at a Nov. 13 press event that the company will open its first “Intel Experience” store in the NoLita (North of Little Italy) neighborhood of New York City on Nov. 23.
Wallace said the stores will be temporary and only stay open until Jan. 25, 2014. Stores will recycle used devices, offer free coffee and have free movies on Fridays as well as guest lectures. There will also be online shopping access within stores. More details are expected in an official announcement in the near future.
Lane Bryant opens five stores
Columbus, Ohio – Lane Bryant has opened three new stores and reopened two stores as of Nov. 15. The three new stores are located in Gretna Crossing Outlets in Gretna, Neb., Spectrum Town Center in Chino, Calif., and Outlets of Mississippi in Pearl, Miss.
The two reopened stores are located in the Boulevard Consumer Square location in Amherst, N.Y., and District at Cross Creek Mall in Fayetteville, N.C. The store in Pearl, Miss., opened Nov. 14 and the other four stores open Nov. 15. Lane Bryant operates more than 800 full-line and outlet stores in 48 states.