Alimentation Couche-Tard Enters into a Definitive Agreement to Acquire Wilsons Gas Stops and Go! Stores
Today, we are sharing the news with our employees and other key stakeholders that our gas station and retail business, known by many of you as Cape D’Or Holdings, is being acquired. We have entered into a binding agreement with Couche-Tard, a well-known convenience gasoline retailer that started from a single store in Quebec and is now one of the largest and most successful companies in our industry. They operate in our markets under the Circle K brand. See the link to the press release.
Couche-Tard is acquiring the Wilsons’ gas station network with certain elements to be sold to a third-party acquisition partner to be determined following a review of the proposed transaction by the Canadian Competition Bureau. The transaction is expected to close in the first half of the 2022 calendar year and is subject to customary closing conditions and regulatory approvals, including under the Competition Act.
During this next period, we remain focused on business as usual and will share more about this transaction when it has been finalized. We will stay in our positions and continue running the business until the transaction closes. We are committed to doing everything we can to support our employees, customers and Couche-Tard through a smooth and orderly transition.
The Wilson family has successfully built and transitioned business over eight generations in Nova Scotia, during which time we have operated many different businesses. Like Couche-Tard, we started in the gasoline business with a first single station and have been able to grow a strong, successful team since that time. We have decided it is the right time for our family to pass the baton to someone to take this business to the next level. Couche-Tard has demonstrated their ability to do this, having grown to become a major player around the world. The business approach and values of Wilsons and its employees, created over many years, is something we are very proud of, and we feel are aligned with those of the new owners. Couche-Tard’s scale and capability gives our staff tremendous opportunities for personal growth and furthers our customers’ access to the best offers in the gasoline convenience retail industry. We feel this deal assures a long term and sustainable future for the gas and retail company that we’ve built.
The Wilson families will continue to own and operate our other existing businesses, Wilsons Heating, Wilsons Security, Kerr Controls and Ski Wentworth and future businesses in our community. We intend to remain a strong, Nova Scotia-based multi-generational family company; one that is always evolving.
We are thankful to our many loyal employees, customers, dealers and corporate partners; so many of them have been with us over the years and we encourage their continued relationship with the new owners.