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Irving to buy, rebrand retail operations

Irving Oil says it has signed a deal with Alimentation Couche-Tard Inc. to acquire 13 and brand 23 retail sites across Atlantic Canada.
GRAHAM HUGHES • CP
Irving Oil says it has signed a deal with Alimentation Couche-Tard Inc. to acquire 13 and brand 23 retail sites across Atlantic Canada. GRAHAM HUGHES • CP - The Canadian Press

The dominant gasoline retailer in Atlantic Canada has further consolidated its position.

Irving Oil announced Tuesday that it has entered into a purchase agreement with Alimentation Couche-Tard Inc. to acquire 13 and re-brand 23 retail sites across Atlantic Canada.

All of the sites were previously operated under the Ultramar name.

Nine of the 13 locations Irving bought are in Nova Scotia with locations in Halifax, Dartmouth, Lower Sackville and Truro.

Irving has also bought operations in St. John’s, Charlottetown and Dieppe, N.B.

The transition of the retail sites is expected to be completed by late August at all locations.

In an interview Tuesday, Irving Oil chief business development officer Jeff Matthews said the move “fits with our strategy to continue to serve our customers in Atlantic Canada” and “provides an opportunity to extend the relationship with our customer.”

Matthews added that the acquisition rounds out the company’s network by ensuring that it remains strong in Nova Scotia, where the 94-year-old company has been a gasoline retailer for 80 years.

Irving Oil, as Matthews pointed out, has been investing heavily in the province in recent years, including spending $80 million to reopen the Halifax Harbour Terminal and to acquire four inland storage facilities across the province.

According to a company news release, Irving Oil, along with operating Canada’s largest refinery in Saint John, also owns more than 900 fuelling locations and a network of distribution terminals across Eastern Canada and New England.

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