Quebec company to operate New England Irving stores
BANGOR, Maine—Hundreds of Irving Oil convenience stores will get a new name and a new look as part of a deal between Irving Oil and a Quebec-based company.
Irving, based in Saint John, New Brunswick, will lease 252 of its Blue Canoe, Maineway and Big Stop convenience stores in New England and Atlantic Canada to
Irving will continue to supply petroleum products to the sites, and the fuel pumps and canopies will remain Irving-branded. The stores will operate under Couche-Tard's red, white and blue signs and its logo of a red, winking owl. Financial arrangements were not disclosed.
The deal involves 124 stores in Maine, New Hampshire, Massachusetts and Vermont, with the other 128 in Canada. The transaction is expected to close in July.
Irving spokesman Harry Hadiaris said the deal allows Irving to focus on its core business of fuel processing and marketing, while Couche-Tard can focus on its core business of retail convenience stores.
The agreement expands upon a similar arrangement the companies have in Quebec and marks Couche-Tard's entry into New England and Atlantic Canada. The deal provides opportunities to expand in the Northeast, including southern New England, New Jersey and Pennsylvania, the companies said.
Couche-Tard, which means "night owl" in French, is the largest Canadian-based convenience store operator, with 5,690 stores in six provinces and 30 states. The stores operate primarily under the Couche-Tard and Mac's trademarks in Canada and the Circle K brand in the U.S.
Irving operates more than 700 gas stations in Canada and New England.
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Information from: Bangor Daily News, http://www.bangornews.com
