Canadian firm Alimentation Couche-Tard Inc. said work is underway to rebrand Big Red Stores as Circle K stores after it finalized its acquisition of the Arkansas-based fuel and convenience chain on Monday.
Financial terms of deal, which was announced in February, have not been disclosed.
The publicly traded company said 44 of the 45 locations it purchased are in the process of being rebranded. The company owns the real estate for all the sites except one, which the previous owner had leased.
The stores have been incorporated into Circle K’s Gulf Coast Business Unit, which is based in Pensacola, Florida, and oversees locations across Alabama, Arkansas, the Florida panhandle, Louisiana and Mississippi.
"We are very pleased to be expanding across Arkansas and welcoming Big Red’s great team members into our family as we raise the Circle K banner at these high-quality locations,” Trey Powell, the Gulf Coast Business Unit's vice president of operations said in a news release. “We’re looking forward to introducing our new customers to the great offerings and exciting programs that make Circle K a leading destination for convenience and mobility.”
Big Red Stores was founded in 1997 by brothers Doug Hendrix and David Hendrix and operated by Summerwood Partners LLC of Bryant. The company reported $306.25 million in 2021 revenue, up from $204.95 million in 2020.
Publicly traded Couche-Tard (TSX:ATD) operates in 24 countries and territories, with more than 14,300 stores, of which about 10,900 offer road transportation fuel. Its subsidiaries include Circle K and On the Run.