TORONTO, March 8 (Reuters) - Alimentation Couche-Tard Inc. (ATDb.TO: Quote, Profile, Research) said on on Thursday it has agreed to buy 53 convenience stores in Oklahoma City, from privately-held Star Fuel Marts, as it beefs up its U.S. network of stores.
Financial details of the transaction were not disclosed, but Couche-Tard, North America's third-largest convenience store operator, said total 2006 sales for the 53 stores were about $215 million.

Couche-Tard said the deal, which will be paid with internal available cash, is expected to close in April. The stores will be converted to Couche-Tard's Circle K banner.

Shares of Couche-Tard, which currently operates a network of 5,360 convenience stores in Canada and the United States, were down 6 Canadian cents, or 0.4 percent, at C$24.91 on the Toronto Stock Exchange on Thursday morning.

($1=$1.18 Canadian)

I've read nothing but good things about Couche-Tard. One of the regular business magazines I read had a profile a year or so ago and talked of their switching their covenience stores to a more 'upscale' type store.

EDIT: Another link with a nice quote about the opportunity for growth in the Oklahoma City market:


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