Irving Oil and Alimentation Couche-Tard Enter Joint Venture Agreement

On March 19, 2001, Irving Oil Limited and Alimentation Couche-Tard entered into a joint venture agreement to expand their network in eastern Quebec. Under the terms of the agreement, 56 Irving Marché Mainway stores in Quebec will be converted to the Couche-Tard banner. Couche-Tard will operate the 56 Irving properties, which will share operating revenues. The joint venture will generate more than $200 million in annual sales of merchandise and petroleum products. Additionally, 60 of Couche-Tard’s own fuelling sites will be rebranded to Irving within four years in the region covered by the agreement. Irving Oil will supply petroleum products to the locations. The transaction is subject to the expiration of the waiting period in accordance with the Competition Act.

Irving Oil was represented by Mark Fortier and Jean-François Pleau of Beauvais, Truchon et Associés SENC and John Wallace of Stewart McKelvey Stirling Scales. Acting for Alimentation Couche-Tard were Rita Lc de Santis and Michel Pelletier (corporate) and Sébastien Thériault (competition) of Davies Ward Phillips & Vineberg LLP.