A recently opened convenience store in Arkadelphia is expected to change hands.
Big Red of Arkadelphia will be among the 45 convenience retails sites in Arkansas that are being purchased by Canadian company Alimentation Couche-Tard, Inc. Beginning sometime in the first half of 2023 the store is likely to operate under the Circle K brand.
Big Red Stores was originally founded in 1997 by Doug and David Hendrix. The Arkadelphia Big Red opened its doors for business in September 2021.
Couche-Tard operates in 24 counties and territories and owns 14,300 stores, with roughly 10,900 of those locations offering fuel.
According to a press release from Couche-Tard, both companies are in a “binding agreement” for the acquisition. The transaction includes modern, high-quality and well-located sites across the state of Arkansas. All 45 sites are company-owned, company-operated sites of which real estate is owned for 44 sites and leased for one site. Furthermore, the network predominately features large format stores that have ample space for enhanced food service and product offerings.
The transaction is expected to close in the first half of calendar year 2023, subject to standard regulatory approvals and closing conditions and will be financed using the corporation’s available cash and/or existing credit facilities.
“We are very pleased to add Big Red Stores’ high-quality locations to our footprint in the state of Arkansas,” said Alex Miller, Couche-Tard’s chief operating officer, in a press release. “Doug and David built an exceptional network of stores and people, and we believe our values are congruent with the culture they’ve spent a quarter-century building. We are honored to be stewards of their legacy.
“As we expand our presence in the area, we look forward to bringing the Circle K experience to new customers and making their lives a little easier every day.”