Couche-Tard bites the dust on Speedway

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Couche-Tard will have to wait before expanding into the United States, as Marathon Petroleum’s chain of Speedway gas stations will be bought by Japanese conglomerate Seven & i Holdings.

The Japanese company that owns the 7-Eleven banner has agreed to contribute US $ 21 billion, Bloomberg News reported on Sunday. The world’s largest convenience store player, Seven & i Holdings is adding 3,900 stores.

Since the beginning of the year, rumors wanting that the American oil company Marathon would divest itself of the Speedway convenience stores to the highest bidder. Couche-Tard would have been one of the contenders, although it has never officially confirmed its desire to buy Speedway.

This is not the first time this year that the Quebec company has not gone ahead for a channel that interested it.

She had put her transaction to swallow Caltex Australia on hiatus in April.

The Laval convenience store chain has said it wants to double its size and achieve sales by 2023 of $ 100 billion.

In 2017, Couche-Tard bought the CST Brands and Holiday convenience store chains in the United States. The company had paid close to $ 6 billion.

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