Couche Tard still focused on U.S. despite eyeing expansion to Asia Pacific
Source Canadian Manufacturing
Alimentation Couche-Tard will continue to focus on growing its U.S.
footprint despite proposing an acquisition in Australia it hopes will be
a springboard for expansion in Asia Pacific, the convenience store
operator's CEO said Wednesday.
Brian Hannasch told analysts that the company remains focused on
consolidating the large American market despite seeking opportunities in
a new global geography.
"Despite our size, it's a massive market, a healthy economy, healthy
consumers, and it's probably the market where we can achieve the
greatest synergies," he said during a conference call.
Hannasch said Asia Pacific is where more of the GDP growth over the next two decades is going to come for.
"So really, for the last three or four years, we've looked pretty
hard in that market. And you all saw the press release about our offer
to Caltex in Australia, which we think is very consistent with the
Australia and New Zealand are stable, promising markets that resemble North America and Europe, he said.