Latest news with #GiantEagle
CBS News
16 hours 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.
Cision Canada
2 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
2 days ago
- Business
- Yahoo
Alimentation Couche-Tard must divest 35 gas stations to advance Giant Eagle deal, FTC says
TORONTO (Reuters) -Canadian retailer Alimentation Couche-Tard will be required to divest 35 gas stations in order to move forward with its proposed $1.57 billion acquisition of 270 retail fuel outlets from grocery store chain Giant Eagle, the Federal Trade Commission said on Thursday. The proposed consent order would settle FTC charges that the deal was anticompetitive and would have likely led to higher fuel costs for consumers across Indiana, Ohio, and Pennsylvania, the commission said in a statement.
Yahoo
2 days ago
- Business
- Yahoo
Alimentation Couche-Tard must divest 35 gas stations to advance Giant Eagle deal, FTC says
TORONTO (Reuters) -Canadian retailer Alimentation Couche-Tard will be required to divest 35 gas stations in order to move forward with its proposed $1.57 billion acquisition of 270 retail fuel outlets from grocery store chain Giant Eagle, the Federal Trade Commission said on Thursday. The proposed consent order would settle FTC charges that the deal was anticompetitive and would have likely led to higher fuel costs for consumers across Indiana, Ohio, and Pennsylvania, the commission said in a statement. 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
Reuters
2 days ago
- Business
- Reuters
Alimentation Couche-Tard must divest 35 gas stations to advance Giant Eagle deal, FTC says
TORONTO, June 26 (Reuters) - Canadian retailer Alimentation Couche-Tard ( opens new tab will be required to divest 35 gas stations in order to move forward with its proposed $1.57 billion acquisition of 270 retail fuel outlets from grocery store chain Giant Eagle, the Federal Trade Commission said on Thursday. The proposed consent order would settle FTC charges that the deal was anticompetitive and would have likely led to higher fuel costs for consumers across Indiana, Ohio, and Pennsylvania, the commission said in a statement.
