December 18, 2014

Willkie represents The Pantry, Inc. in deal to be acquired by Alimentation Couche-Tard Inc.

On December 18, Canadian convenience store leader Alimentation Couche-Tard Inc., which operates under the Circle K banner, announced it will acquire Willkie client The Pantry, Inc., which has more than 1,500 convenience stores in the southeastern United States, including the Kangaroo Express® chain.

Couche-Tard agreed to acquire The Pantry, Inc. in an all-cash transaction valued at $36.75 per share, with a total value of approximately $1.7 billion, including debt assumed. The terms of the agreement were unanimously approved by the boards of directors of both companies. The transaction is expected to close in the first half of 2015.

The deal provides a premium to Pantry shareholders and strengthens the combined company in two of the fastest growing regions of the United States. Couche-Tard,  which has more than 6,300 convenience stores throughout North America, is poised to become the definitive leader in the southeastern and Gulf Coast regions of the U.S.

The Willkie deal team representing The Pantry, Inc. was led by partner Steven Seidman  and included Laura Delanoy and Danielle Scalzo.