Canada’s Alimentation Couche-Tard, parent of convenience store chain Circle K, has reached a deal to acquire GetGo Café + Markets from supermarket retailer Giant Eagle.
GetGo has approximately 270 convenience retail and fueling locations across Pennsylvania, Ohio, West Virginia, Maryland and Indiana. The chain operates under various models including open-concept stores and stand-alone kiosks and features an extensive menu of made-to-order foods.
As part of the agreement, Couche-Tard and Giant Eagle will maintain and partner on the latter’s myPerks loyalty program.
“This enhances our focus on our core supermarket and pharmacy businesses, strengthening Giant Eagle and better enabling us to make strategic investments in our people, stores, and value proposition while matching GetGo with the perfect partner in Couche-Tard,” said Bill Artman, CEO of Giant Eagle.
The acquisition is expected to close next year and will be financed using the company’s available cash and/or existing credit facilities. Other financial terms of the deal were not disclosed.
Couche-Tard has also made an offer to acquire Japan’s Seven & I Holdings, which operates the 7-Eleven convenience store chain. The board of Seven & I has formed a special committee to review the proposal, which would be the largest acquisition of a Japanese company by a foreign one if completed.
