South America-based Compañía de Petróleos de Chile (Copec) has completed the divestiture of stores and assets under the MAPCO Express brand.
Convenience store operator Alimentation Couche-Tard acquired 112 company-operated fuel and convenience retail sites from MAPCO.
The deal, initially announced in April 2023, also included surplus property and a logistics fleet.
Couche-Tard financed the transaction using its available cash and its US commercial paper programme.
Couche-Tard chief operating officer Alex Miller stated: “We are pleased to welcome these MAPCO stores and their great team members into the Couche-Tard family and look forward to their integration.
“As we continue to grow our presence across the southern US, we are excited to bring the Circle K experience to new customers in Georgia, Tennessee, Alabama and Kentucky.”
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Copec also completed the divestiture of 192 Mapco-branded convenience stores in Alabama, Arkansas, Georgia, Kentucky, Mississippi and Tennessee to Majors Management.
The deal with Majors also includes MAPCO’s wholesale fuel division, loyalty programme, brand and other intellectual property.
The combined capabilities will enable Majors to expand its scope and offering in new and existing markets.
Majors president Ben Smith stated: “We are confident that this transaction will bring together the strengths and expertise of two industry leaders to better serve the evolving needs of customers and markets.
“We are committed to growing the MAPCO brand and loyalty programme and keeping Mapco’s highest standards of service and quality to customers.”
Based in Franklin, Tennessee, MAPCO operates more than 350 corporate-owned convenience stores, most of which are located in Tennessee, Georgia and Alabama.
It also runs stores in Arkansas, Virginia, Kentucky and Mississippi.
The retailer operates under banners including MAPCO Express, MAPCO Mart, Fast Food and Fuel, East Coast and Delta Express.