Alimentation Couche-Tard Inc/Circle K has announced it completed the acquisition of certain European retail assets from TotalEnergies.
As announced on 16 March 2023, this acquisition includes a 60% controlling interest in the entities in Luxembourg.
The retail assets in the transaction incorporate 44 petrol stations in Luxembourg. Of these 70% are company-owned, and 30% dealer-owned. 514 people working in service office, support functions and petrol stations are part of the transaction.
“We have a proud history as members of the TotalEnergies family and remain committed to our customers in Luxembourg with the same great people, locations and constantly evolving products and services. This change means a big opportunity to grow and develop our offer to our customers together with the global and European organisation in Circle K,” said Frank Reuter, Vice President in Luxembourg for Circle K.
The petrol station network in Luxembourg will continue to operate under the TotalEnergies brand following the acquisition. The shops and car washes will be rebranded and adapted to Circle K concepts over the next years, but the fuel forecourts will be TotalEnergies branded and supplied for the next five years.
“We are very happy to welcome the population of Luxembourg as our customers. We promise to build on the great services delivered by TotalEnergies and gradually introduce the Circle K brand and offer adapted to the Luxembourgish market, in the best way together with the strong national management and station teams that are already doing a fabulous job,” said Hans-Olav Høidahl, Executive Vice Operations Europe in Circle K.
In Germany and the Netherlands, TotalEnergies sold 100% of its networks to Couche-Tard, while in Belgium and Luxembourg, the two companies formed a joint venture (TotalEnergies 40%, Couche-Tard 60%).
