Alimentation Couche-Tard is already reaping benefits from its acquisition of Statoil Fuel & Retail earlier this year, saying that it expects to report synergies of around $200m at its next financial briefing. Couche-Tard, which paid $2.68bn for the chain’s assets, including its stores across Scandinavia, Russia, Poland and elsewhere in Eastern Europe, said that the synergies are related directly to the stores’ operations and that it does not take into account the favourable tax rate also benefiting the company.
The announcement, to the higher end of analysts’ expectations, was predicted to bring good news by industry specialists, due to the company’s high success rate in integrating acquisitions – particularly the Circle K stores purchased earlier this year.
Couche-Tard is expected to reveal more details on the progress of its acquisition when it publishes its second quarter results at the end of November.
PetrolWorld 11102012