Deals
Canada’s Couche-Tard in $860 Million Deal for Pantry Chain
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Alimentation Couche-Tard Inc. agreed to buy The Pantry Inc. chain for about $860 million in a deal that pairs the Canadian convenience store operator with one that has locations in the southeastern and gulf states of the U.S.
The all-cash transaction values Cary, North Carolina-based Pantry at $36.75 a share, a 27 percent premium to its closing price on Dec. 16, according to a statement today. Including debt, the deal has an enterprise value of $1.7 billion.