TotalEnergies and Canadian convenience store leader Alimentation Couche-Tard (“Couche-Tard”) have signed a series of agreements establishing retail network coverage of TotalEnergies products and services in four European countries. Under these agreements, TotalEnergies will partner with Couche-Tard in Belgium and Luxembourg and sell its networks in Germany and the Netherlands to the Canadian firm.
In Belgium and Luxembourg, both companies will form a joint venture (TotalEnergies 40%, Couche-Tard 60%) which will own and operate 619 service stations. TotalEnergies is the market leader in these two countries and the partnership with Couche-Tard will accelerate the transformation of these assets by maximizing the sales of their respective networks and fuel.
In Germany and the Netherlands, TotalEnergies will sell 100% of its networks to Couche-Tard, including 1,198 service stations in Germany and 392 in the Netherlands. The Company is not exactly a market leader in these two countries and having a “precious shoulder” able to back individual market operations is an essential strategic move. TotalEnergies will instead focus on the development of new mobility, both electric and hydrogen, in these countries.
Service stations in the four countries will remain under the TotalEnergies brand, at least for the next five years; this as long as the fuel will be supplied by the company itself, in particular by its refineries in Antwerp (Belgium) and Leuna (Germany).