Couche-Tard agrees to buy Irving Oil assets in Québec and Ontario

Alimentation Couche-Tard has signed a definitive agreement to acquire retail assets from Irving Oil in Québec and Ontario, the company announced on 9 October 2026. The proposed acquisition covers stores it already operates, alongside fuel supply arrangements and cardlock locations.

The retail assets comprise 50 sites operated by Couche-Tard through its Québec Alliance with Irving Oil and two locations in Pembroke and Cornwall, Ontario, which Couche-Tard also operates. The agreement additionally covers fuel supply to 71 retail sites that Couche-Tard owns and operates in Québec.

Existing operations underpin the agreement

For operators and investors, the transaction centres on locations already within Couche-Tard’s operating network rather than stores it would be taking over operationally for the first time. The company presented the agreement as an extension of its existing relationship with Irving Oil.

Stéphane Trudel, senior vice president of operations at Alimentation Couche-Tard, pointed to the company’s experience running the locations and its familiarity with their customers. He said the proposed deal would support continued investment in the convenience experience offered at its stores.

“These are markets and customers we know well,” Trudel said. His comments linked the proposed investment to the company’s established operations in the markets covered by the agreement.

Cardlock assets and fleet service continuity

The acquisition also includes 18 cardlock sites, with 16 in Québec and two in Ontario. Of that portfolio, 16 share locations with retail sites covered by the transaction, while two sit alongside sites Couche-Tard already owns and operates.

According to Couche-Tard, a long-term agreement with Irving Oil will maintain service for existing Irving Oil fleet customers at those locations. That arrangement provides for continued fleet access alongside the proposed asset acquisition.

The deal has not yet closed and remains conditional on customary closing requirements. Regulatory clearance is also required, including approval under the Competition Act.