Yesterday, Alimentation Couche-Tard Inc. announced it has reached a definitive agreement to acquire GetGo Café +Markets from supermarket retailer Giant Eagle Inc.
According to a press release, GetGo employs approximately 3,500 people and operates approximately 270 convenience retail and fueling locations across Pennsylvania, Ohio, West Virginia, Maryland, and Indiana. As part of this transaction, “Couche-Tard and Giant Eagle have agreed to maintain and partner together on Giant Eagle's widely popular myPerks loyalty program.”
"We are excited to welcome GetGo into the Couche-Tard family. As we learn more about the GetGo business, it is clear that it has built a strong and passionate customer base with high-quality stores staffed by talented and engaged teams working to deliver a great experience. We have deep respect for its management and people as well as its outstanding food and loyalty programs. We look forward to growing together as we learn from and continue GetGo's innovative approaches to serving its local customers and communities," said Brian Hannasch, president and chief executive officer of Couche-Tard.
The acquisition is expected to close in 2025 and is “subject to standard regulatory approval and closing conditions and will be financed using the company's available cash and/or existing credit facilities, including its U.S. Commercial Paper Program.” The companies are not disclosing the financial terms of the transaction.
"We are energized by the potential for both Giant Eagle and GetGo as a result of this transaction," added Bill Artman, chief executive officer of Giant Eagle. "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. Their depth of experience in convenience stores and fuel will create tremendous opportunities for our team members and customers, and we look forward to partnering with them on the myPerks loyalty program."
Last December, NACS spoke to Terri Micklin, the president of GetGo, about what it means to be a food-first c-store.
Couche-Tard also made an acquisition proposal yesterday for Seven & i Holdings, the Japanese company that operates 7-Eleven.