Couche-Tard acquires Dion’s c-store chain in Florida

Dive Brief:

Alimentation Couche-Tard, parent company of Circle K, has acquired the 11-location Dion’s Enterprises c-store chain in the Florida Keys, a spokesperson from Couche-Tard said in an email.
The acquisition includes three stores in Key West and two in Marathon, with the rest in Big Coppit, Florida City, Homestead, Stock Island, Islamorada and Summerland Key, according to Dion’s website. Couche-Tard’s spokesperson declined to comment on how much the acquisition cost.
All of the acquired Dion’s locations will be rebranded into Circle K stores, and Couche-Tard will also retain Dion’s team members, the spokesperson said.

Dive Insight:

Circle K currently operates about 10 stores in the Florida Keys, the spokesperson said — meaning the Dion’s acquisition will more than double its footprint in the region.

Dion’s stores are known for the chain’s proprietary fried chicken QSR, Dion’s Quik Chik, which Couche-Tard plans on keeping intact as it rebrands the stores to Circle K’s, the spokesperson said.

“These sites are popular destinations for visitors and locals alike, and they complement our existing store network in South Florida nicely,” the spokesperson said.

Five of the Dion's stores were closed last Wednesday and reopened as Circle K locations Thursday, while five more were shuttered Thursday and reopened as Circle K’s on Friday, according to a report from Keysnews.com

Key West, Florida-based Dion’s is owned and operated by Steve and Linda Uphoff, who originally got into the c-store business with Uppy’s Convenience Stores in 1996. They acquired Dion’s from its original owners in 2016. Besides c-stores, Dion’s is also a wholesale fuel provider for marinas and dockside vessels, service stations and other businesses.

The acquisition continues a busy year on the M&A front in the U.S. for Couche-Tard. Just last week, the retailer agreed to purchase 112 MAPCO c-stores if Majors Management LLC purchases the rest of Brentwood, Tennessee-based MAPCO’s locations. In February, Couche-Tard acquired the 45-location Big Red Stores c-store chain in Arkansas, which it has since begun rebranding to Circle K.

Laval, Quebec-based Couche-Tard operates more than 9,000 c-stores in North America — including over 7,000 in the U.S. — under the Circle K, Holiday Stationstores and Couche-Tard banners. It is the second-largest c-store company in the continent behind 7-Eleven.