Faegre Baker Daniels is representing Alimentation Couche-Tard Inc. (TSX: ATD.A ATD.B) in its acquisition of CST Brands, Inc. (NYSE: CST) in an all-cash transaction valued at approximately $4.4 billion including net debt assumed. The companies announced a definitive merger agreement on Aug. 22, 2016. CST is based in San Antonio, Texas and employs over 14,000 people at over 2,000 convenience store locations. CST also controls the general partner of CrossAmerica Partners LP, a publicly traded master limited partnership (NYSE: CAPL).
Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores. The company has more than 7,800 stores and 80,000 employees throughout North America. The company also has operations across Europe and Asia.
Faegre Baker Daniels’ Jeff Brown, Doug Long and Jason Kimpel, corporate partners, and David Bartoletti and Elena Simion, corporate associates, are leading the deal team advising Couche-Tard.
Read Couche-Tard’s press release for more information.