LAVAL, Quebec­—Alimentation Couche-Tard Inc. announced yesterday it has agreed to acquire 45 fuel and convenience retail sites from family-owned Big Red Stores, an Arkansas-based company founded in 1997 by Doug and David Hendrix.

The deal includes modern, high-quality and well-located sites across the state of Arkansas, Couche-Tard said in a news release. All 45 sites are company owned and operated. Real estate is owned for 44 sites and leased for one site.

Big Red Stores’ network features large-format stores with ample room for enhanced foodservice and product offerings, Couche-Tard said.

The transaction is expected to close in the first half of 2023, subject to standard regulatory approvals and closing conditions, and will be financed using Couche-Tard’s available cash and/or existing credit facilities, the company said.

"We are very pleased to add Big Red Stores' high-quality locations to our footprint in the state of Arkansas. Doug and David built an exceptional network of stores and people, and we believe our values are congruent with the culture they've spent a quarter-century building. We are honored to be stewards of their legacy," said Alex Miller, Couche-Tard's chief operating officer.

Couche-Tard operates the Circle K brand, as well as the Couche-Tard and Ingo brands. The Canadian-based convenience retailer has more than 14,300 stores and 122,000 employees in 24 countries and territories.

In December 2022, Couche-Tard announced a deal to acquire True Blue Car Wash LLC, which operates express tunnel car was sites under the Clean Freak brand in the Southwest U.S., plus the Rainstorm brand in the Midwest U.S.