Couche-Tard buying fuel retail sites from Irving Oil in Quebec and Ontario
Alimentation Couche-Tard Inc. has announced a deal to buy dozens of retail sites from Irving Oil in Quebec and Ontario.
The acquisition includes 50 locations in Quebec already operated by Couche-Tard under an alliance with New Brunswick-based Irving, as well as two in eastern Ontario.
Laval, Que.-based Couche-Tard is also buying 18 cardlock sites serving commercial customers like truckers. Sixteen of the sites would be on the same site as retail outlets.
In addition, the deal covers fuel supply to 71 retail sites owned and operated by Couche-Tard in Quebec.
"This agreement builds on our long-standing relationship with Irving Oil and our experience operating these locations," said Stéphane Trudel, senior vice-president of operations at Couche-Tard, in a news release.
"These are markets and customers we know well. The transaction would support our continued investment in the everyday convenience experience we offer our customers."
Couche-Tard did not say in the news release how much it is paying for the assets.
It said the deal is subject to customary closing conditions and regulatory approvals, including under the Competition Act.
The deal comes weeks after Irving appointed European energy executive Alfred Stern as its next president and chief executive officer.
Stern is to step into the top job on Nov. 1. He replaces Jeff Matthews, who is retiring after a 32-year career.
Stern most recently served as chairman and chief executive of Austrian oil and gas group OMV AG.
The decision to bring in an outsider to fill the Saint John, N.B., company's leadership role comes after an 18-month strategic review, which wrapped up in January 2025.
The review of the oil refiner and retailer's future ended with Irving Oil choosing to keep the family-owned business independent rather than pursue a sale.
This report by The Canadian Press was first published Oct. 9, 2026.
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