Core-Mark, Alimentation Couche-Tard sign letter of intent for Core-Mark to service roughly 980 U.S. Circle K stores
SOUTH SAN FRANCISCO, California
July 18, 2011
– Core-Mark Holding Company, Inc. CORE +1.81% , one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America, announced today that it will be serving as the broadline supplier to the Circle K stores in the Southeastern U.S. leading to the creation of a new division in Tampa, Florida.
Core-Mark and Alimentation Couche-Tard have signed a letter of intent as they negotiate a long term agreement for Core-Mark to service approximately 980 Couche-Tard corporate stores within Couche-Tard's Southwest, Southeast, Gulf Coast and Florida markets. Core-Mark will begin supplying these stores in the next few months. Concurrent to this new supply agreement, Core-Mark and Couche-Tard have also reached preliminary agreement to renew their existing supply agreements for stores located in western Canada and the western United States. The Canadian stores operate under the Mac's banner and the U.S corporate stores operate under the Circle K banner.
Mike Walsh, Core-Mark's CEO states, "We have enjoyed a long relationship with Couche-Tard and are extremely pleased of their affirmation in our ability to contribute to their success as an industry leading retailer. Both companies have similar strategic views in driving efficiencies in the supply chain as well as creating real solutions to changing consumer demands."
Core-Mark is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Founded in 1888, Core-Mark offers a full range of products, marketing programs and technology solutions to approximately 28,000 customer locations in the U.S. and Canada through 25 distribution centers (excluding two distribution facilities the Company operates as a third party logistics provider). Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry convenience products. For more information, please visit www.core-mark.com .
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