Seventy-one local gas stations may be converted from Shell to Circle K stores, thanks to a deal announced Thursday between Shell Oil Products and Canada- based Alimentation Couche-Tard Inc.
Couche-Tard has agreed to buy a total of 236 gas stations from Shell under its wholly owned subsidiary, Circle K Stores Inc.
The terms of the deal, which is expected to close by the end of the year, were not disclosed.
Couche-Tard is the third-largest convenience-store operator in North America, with 5,205 outlets. It said it plans to invest $45 million over the next five years to renovate the stores.
The 236 properties sell a total of 340 million gallons of fuel annually and $120 million worth of merchandise. They will continue to sell Shell gasoline as part of the purchase agreement.
“Circle K has been here in the past, and they’ve been a responsible marketer,” said Roy Turner,executive vice president of the Colorado/Wyoming Petroleum Marketers Association. “I think this will probably be good for the consumer.”
Staff writer Julie Dunn can be reached at 303-954-1592 or jdunn@denverpost.com.
