CLEVELAND — Giant Eagle has announced that an agreement has been made for the store chain to sell all of their GetGo locations to Couche-Tard -- the parent company of Circle K -- with the deal expected to close next year.
So what does this mean for you when it comes to all those fuel perks at the gas pump?
“GetGo stores will continue to operate as part of Giant Eagle until the transaction closes,” the company explained in a press release Monday morning. “Following close, Couche-Tard and Giant Eagle have agreed to keep and partner together on the myPerks loyalty program across Giant Eagle and GetGo locations, while exploring opportunities to expand the program to unlock even more value and discounts for our customers.”
GetGo employs approximately 3,500 people with approximately 270 retail and fueling locations across Ohio, Pennsylvania, West Virginia, Maryland and Indiana, according to a press release from Couche-Tard.
"We are energized by the potential for both Giant Eagle and GetGo as a result of this transaction," said Bill Artman, Chief Executive Officer of Giant Eagle. "This enhances our focus on our core supermarket and pharmacy businesses, strengthening Giant Eagle and better enabling us to make strategic investments in our people, stores and value proposition while matching GetGo with the perfect partner in Couche-Tard. Their depth of experience in convenience stores and fuel will create tremendous opportunities for our team members and customers, and we look forward to partnering with them on the myPerks loyalty program."
Here are more details on the deal as provided in a Q&A from Giant Eagle
Why did Giant Eagle make the decision to sell its GetGo business?
For Giant Eagle, this transition enables us to focus greater resources to enhance and grow our core supermarket and pharmacy businesses. The sale will strengthen Giant Eagle, better enabling us to prioritize investments and resources, further bolstering our position as a leading regional grocer and pharmacy with a well-known brand that delivers value for customers and Team Members.
Giant Eagle is also confident that Couche-Tard is the right partner for GetGo moving forward. Today’s announcement brings together GetGo’s leadership in the made-to-order foods with Couche-Tard’s scale, strength and depth of experience in convenience stores and fuel.
When will the sale be official?
We expect this transaction will close in calendar 2025, subject to FTC approval and other customary closing conditions.
What will happen to GetGo Team Members?
Couche-Tard has deep respect for the GetGo business, management, and people and will be intentional about preserving all that makes GetGo great. Couche-Tard is planning to carry forward the incredible legacy GetGo has built, including its excellent customer service and its food-first approach to convenience. Couche-Tard intends to retain all dedicated GetGo store, operations and support Team Members as a part of this transaction.
What Couche-Tard is saying about the agreement
"We are excited to welcome GetGo into the Couche-Tard family," said Brian Hannasch, President and Chief Executive Officer of Couche-Tard. "As we learn more about the GetGo business, it is clear that it has built a strong and passionate customer base with high quality stores staffed by talented and engaged teams working to deliver a great experience. We have deep respect for its management and people as well as its outstanding food and loyalty programs. We look forward to growing together as we learn from and continue GetGo's innovative approaches to serving its local customers and communities."
What is Couche-Tard?
Here is how the company describes itself:
Couche-Tard is a global leader in convenience and mobility, operating in 31 countries and territories, with more than 16,700 stores, of which approximately 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of People's Republic of China. Approximately 149,000 people are employed throughout its network.
When will the sale be complete?
"The acquisition is expected to close in calendar year 2025 subject to standard regulatory approval and closing conditions and will be financed using the company's available cash and/or existing credit facilities, including its U.S. Commercial Paper Program," according to a press release. "The companies are not disclosing the financial terms of the transaction."