Alimentation Couche-Tard has moved to add more car washes to its portfolio as a way of boosting new and existing revenue. Car washes not only add standalone value, but also let the company cross-sell the services of its convenience stores and gas-stations.
ALIMENTATION COUCHE-TARD, $64.37, is a #1 Power Buy for your 2023 investing. The company (Toronto symbol ATD; TSINetwork Rating: Average) (couchetard.com; Shares o/s: 1.0 billion; Market cap: $64.4 billion; Dividend yield: 0.9%) recently added to its chain of car washes with the acquisition of True Blue Car Wash LLC, which has 65 locations in high-traffic areas of Arizona, Illinois, Indiana and Texas. The purchase price has not yet been disclosed.
True Blue’s car washes should be a good fit with Couche-Tard’s own network of more than 2,500 car-wash locations, and True Blue has a strong pipeline of future new sites planned and under development. The chain has seen strong growth in recent years and washed more than 10 million cars over the 12 months.
Couche-Tard says that…
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Changes to this Policy
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