Giant Eagle sells GetGo convenience stores to Canadian company
Giant Eagle is selling its GetGo convenience stores to a Canadian company that is also angling to buy the 7-Eleven chain of stores, it was announced Monday.
Alimentation Couche-Tard Inc., based in suburban Montreal, is purchasing the 270 GetGo food and fueling locations for a price that was not disclosed. In a news release, Giant Eagle said it is selling the stores so that it can focus on its grocery stores and pharmacies, and the sale “will strengthen Giant Eagle, better enabling us to prioritize investments and resources.”
Bill Artman, Giant Eagle’s chief executive officer, explained, “We are energized by the potential for both Giant Eagle and GetGo as a result of this transaction. This enhances our focus on our core supermarket and pharmacy businesses, strengthening Giant Eagle and better enabling us to make strategic investments in our people, stores and value proposition…”
He also described Alimentation Couche-Tard as “the perfect partner.”
The Canadian company – frequently referred to as just “Couche-Tard” – operates in 31 countries and has more than 16,000 stores. Its brands include Circle K. On Monday, it was also reported that Couche-Tard has made a buyout offer to the Japanese company that owns 7-Eleven. If it is successful, it would gain the 85,000 7-Eleven locations in North America and Asia.
Couche-Tard will continue the myPerks loyalty program once it takes over the company. That allows Giant Eagle customers to get discounts on gasoline at GetGo locations based on the amount they spend on groceries and other goods.
“We have deep respect for (GetGo’s) management and people, as well as its outstanding food and loyalty programs,” according to Brian Hannasch, president and CEO of Couche-Tard. In a statement, he added, “We look forward to growing together as we learn from and continue GetGo’s innovative approaches to serving its local customers and communities.”
The sale is expected to be final in 2025, pending regulatory approval. There are several GetGo stores in the region and across the state, and there are also stores in Ohio, West Virginia, Maryland and Indiana.