Latest news with #GetGo
CBS News
2 days ago
- Business
- CBS News
GetGo's sale to Canadian-based convenience store company approved by Federal Trade Commission
Giant Eagle's sale of its GetGo Café + Market sites to a Canadian-based convenience store company was approved by the Federal Trade Commission. The $1.57 billion acquisition by Alimentation Couche-Tard, which operates Circle K gas stations, would give the company control of Giant Eagle's 270 GetGo locations across Pennsylvania, Ohio, West Virginia, Maryland and Indiana. But the FTC said Couche-Tard must first get rid of 35 gas stations it already owns to protect people in our area from higher gas prices. Couche-Tard already operates more than 7,000 stores nationwide, which is why the FTC said the company needs to divest 35 gas stations to Majors Management, so there is no conflict of interest. The FTC did not want this acquisition to lead to high gas prices because right now Couche-Tard's gas stations closely compete with the GetGos in Pennsylvania, Ohio and Indiana. Couche-Tard will get 20 days after the acquisition to drop those 35 stores. Right now, the public can give their opinions on the sale for the next 30 days. After that, the FTV will read all the comments and make a final decision. Following the final sale, Giant Eagle said they have agreed to partner with Couche-Tard to continue the popular myPerks loyalty program across Giant Eagle and GetGo locations. They also plan to explore "opportunities to expand the program." And now, Giant Eagle says it can forget about gas and focus on lower prices in their grocery stores and pharmacies, opening new store locations and remodeling old ones.
Yahoo
2 days ago
- Business
- Yahoo
Couche-Tard to divest 35 locations to Majors Management
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Alimentation Couche-Tard must divest 35 fuel locations to resolve antitrust concerns and close its $1.57 billion acquisition of GetGo Cafe + Market, the 270-location c-store arm of grocer Giant Eagle, the Federal Trade Commission announced on Thursday. Majors Management will acquire these locations, which are located across 35 markets in Indiana, Ohio, and Pennsylvania. This appears to be Majors' first foray into Indiana, although a company spokesperson did not respond by press time when asked to confirm this information. Once the deal closes, GetGo will operate as a separate business unit led by Vice President of Operations Mike Maraldo, who became the banner's top executive after former President Terri Micklin departed in the spring, according to an announcement from Couche-Tard. GetGo's senior operations leaders, management and functional support staff will remain at Giant Eagle's corporate campus in Cranberry Township, Pennsylvania once the deal closes.. In addition, GetGo's brand, programs and offers will continue, including the popular myPerks loyalty program that it shares with Giant Eagle. The deal is expected to close 'in the coming days,' Couche-Tard President and CEO Alex Miller said during the company's earnings call on Thursday. "GetGo has built an extraordinary brand on the strength of a best-in-class food program, an exceptional store experience and a compelling offer activated by an amazing team that is passionate about their customers and communities," Miller said in the company announcement. "We are very pleased to welcome them to the Couche-Tard team." Couche-Tard must divest the 35 stores within 20 days of closing the GetGo deal and cannot re-acquire any of the locations for 10 years, the FTC said. It must also let the FTC know before acquiring any 'competitively significant' stores in those parts of Indiana, Ohio and Pennsylvania for the next decade. The stores include 34 Circle K locations and one GetGo site. 'This anticompetitive acquisition threatened to make Americans pay more at the pump by raising fuel prices,' said Daniel Guarnera, director of the FTC's Bureau of Competition. 'The FTC's action today preserves competition between gas stations that is critical for keeping fuel prices in check. The FTC will keep a watchful eye on retail fuel markets to make sure American consumers can spend less on gas and keep more money in their pockets.' This isn't the first time Majors Management and Couche-Tard have worked together on getting a deal done. When Majors Management agreed to buy MAPCO in 2023, Couche-Tard bought 112 of the stores as part of the transaction. 'Majors is well-positioned to compete effectively and ensure that competition is fully maintained in the markets that would otherwise be impacted by ACT's proposed acquisition,' said FTC Commissioner Mark R. Meador in a statement. Once the GetGo deal is complete, Couche-Tard can turn its M&A team's full attention to its proposed Seven & i buyout. Miller said during the company's recent earnings call that a decision on if a deal can be reached may not take much longer. Recommended Reading Couche-Tard to acquire GetGo's 270 c-stores Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
3 days ago
- Business
- Cision Canada
COUCHE-TARD RECEIVES FTC CLEARANCE TO COMPLETE ACQUISITION OF GETGO CAFÉ + MARKET Français
GetGo will operate as a separate, stand-alone business unit, maintain myPerks loyalty program; 35 stores to be divested in accordance with regulatory requirements LAVAL, QC and CRANBERRY TOWNSHIP, Pa., June 26, 2025 /CNW/ - Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD) today announced that it has received clearance from the U.S. Federal Trade Commission to proceed with its acquisition of GetGo Café + Market ("GetGo") from Giant Eagle, Inc. The transaction is expected to close in the coming days. GetGo's approximately 3,500 employees and 270 locations in Pennsylvania, Maryland, West Virginia, Ohio and Indiana will make up a new and separate business unit (BU) within Couche-Tard's U.S. store network. Leading the BU as Vice President of Operations is Mike Maraldo, a 33-year Giant Eagle veteran who has been Vice President of Operations for GetGo since 2022. "GetGo has built an extraordinary brand on the strength of a best-in-class food program, an exceptional store experience and a compelling offer activated by an amazing team that is passionate about their customers and communities," said Alex Miller, President and CEO of Couche-Tard. "We are very pleased to welcome them to the Couche-Tard team, looking forward to supporting and enabling their continued growth and success and eager to learn from their insights and experience as we strive to make our customers' lives a little easier every day." Senior operations leaders, as well as management and functional support staff for GetGo will remain based at Giant Eagle's corporate campus in Cranberry Township, Pa., in a separate, dedicated space. In addition, GetGo's brand, programs, and offers will continue, including the popular myPerks loyalty program that it shares with Giant Eagle. "GetGo has been an important part of Giant Eagle's history, and we thank all 3,500 GetGo and WetGo Team Members for the valuable work they have done," said Bill Artman, President and CEO of Giant Eagle. "Couche-Tard is a great fit for GetGo. Their deep understanding of consumer needs and their passion for the brand and the myPerks loyalty program will help GetGo continue its success and growth." Agreement to Sell Assets in the United States Couche-Tard worked cooperatively with the FTC and has agreed to sell 35 sites, including 34 Circle K locations and one GetGo property, to a buyer approved by the FTC. About Alimentation Couche-Tard Inc. Couche-Tard is a global leader in convenience and mobility, operating in 29 countries and territories, with close to 17,000 stores, of which approximately 13,000 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of the People's Republic of China. Approximately 146,000 people are employed throughout its network. Forward-Looking Statements This press release may include certain statements that are "forward-looking information" within the meaning of the securities laws of Canada, including statements relating to the completion of the GetGo acquisition by Couche-Tard and the intended timing and benefits thereof. Any statement in this press release that is not a statement of historical fact may be deemed to be forward-looking information. When used on this press release, the words "believe", "could", "should", "intend", "expect", "estimate", "assume", "aim", "align", "maintain", "continue", "effect", "growth", "position", "seek", "strategy", "strive", "will", "may", "might" and other similar expressions or the negative of these terms are generally intended to identify forward-looking information, although not all forward-looking statements include such words. These statements are based on management's current expectations, assumptions and estimates, which it believes are reasonable, but which are subject to a number of risks and uncertainties that could cause actual results and outcomes to differ materially, including risks associated with the entry into and consummation of a potential transaction, ability to realize expected synergies and successfully integrate the companies in the event of a transaction, market and economic conditions, business prospects or opportunities, future plans and projections, technological and business developments, and regulatory trends and changes, and such other risks as described in detail from time to time in documents filed by Couche-Tard with securities regulatory authorities in Canada. All forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement and speak as of the date of this news release. Couche-Tard undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. SOURCE Alimentation Couche-Tard Inc.
Yahoo
31-05-2025
- Business
- Yahoo
Local GetGo sells $150,000 scratch-off winner
CANTON, Ohio (WJW) — A Canton woman is celebrating a big win after claiming the $150,000 top prize on the Ohio Lottery's $5 scratch-off game, $150,000 Blast. After mandatory state and federal tax withholdings totaling 28%, she will receive a lump sum of $108,000, according to the Ohio Lottery. Ohio woman wins $80K a year for 25 years: Here's how much she really gets The winning ticket was purchased at GetGo #3364, located at 104 Raff Road in Canton. $150,000 Blast offers a top prize of $150,000. As of May 30, one top prize remains in the game, according to the Ohio Lottery. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Independent Singapore
30-05-2025
- Automotive
- Independent Singapore
Shared car was being driven to repair shop when it caught fire: GetGo
SINGAPORE: A shared car that caught fire along Upper Changi East Road on Thursday (29 May) was not available for public rental at the time of the incident, car-sharing company GetGo clarified in a statement today (30 May). The grey vehicle, which bore GetGo's branding, was seen engulfed in flames near a bus stop, prompting concern among members of the public and users of the popular car-sharing platform. According to a video shared by SG Road Vigilante, the car's trunk was open and heavy smoke and flames were visible. The driver's side of the vehicle appeared extensively burned. In response to media queries, GetGo confirmed that the vehicle involved was not listed for rental on its platform. Instead, the car was being driven by a staff member from an authorized repair shop at the time of the fire. The vehicle had been undergoing servicing. No one was injured in the incident, a GetGo spokesperson confirmed, adding that investigations into the cause of the fire are currently underway. The Singapore Civil Defence Force (SCDF) said it was alerted to the incident at around 11:05am on 29 May. Firefighters were deployed to the scene and successfully extinguished the blaze using water jets. Founded in 2021, GetGo is one of Singapore's largest car-sharing platforms, offering users access to vehicles through a mobile app. Its pay-per-use model appeals to drivers who prefer not to bear the high costs of car ownership in Singapore, including the steep Certificate of Entitlement (COE) prices. As Singapore moves toward a 'car-lite' future, platforms like GetGo have grown rapidly. These services offer flexibility, especially for residents who require occasional access to a car without the commitment of long-term ownership. While Wednesday's incident may have alarmed some, GetGo's swift clarification has helped to reassure users that the vehicle was not in circulation for customer use.
