Giant Eagle is now one step closer to closing the $1.57 billion sale of its 270 GetGo gas stations to the owners of Circle K, Canadian firm Alimentation Couche-Tard Inc., now that an agreement has been signed with the Federal Trade Commission.
The FTC concluded that the deal would end "head-to-head" competition across 35 local markets in Indiana, Ohio, and Pennsylvania, areas where Couche-Tard's own Circle K gas stations and GetGo locations are in close proximity.
35 locations will need to be divested, including one GetGo (located in the state of Indiana).
Giant Eagle tells KDKA Radio, the move enables the two companies to formally close the deal, something Giant Eagle believes will happen in the “coming days.”
Customers will not notice any immediate changes when the sale takes place. Locations will continue to have the name GetGo and they will continue to be able to use the myPerks loyalty program.
The 3,500 employees will continue to be employed in a new and separate business united, owned by Couche-Tard.
“Senior operations leaders, as well as management and functional support staff for GetGo will remain based at Giant Eagle's corporate campus in Cranberry Township, Pa., in a separate, dedicated space,” a press release says.