Giant Eagle's Strategic Move: Selling GetGo to Couche-Tard
Giant Eagle Sells GetGo to Couche-Tard
Giant Eagle, Inc. has officially completed the sale of its GetGo business to Alimentation Couche-Tard Inc. This transaction includes approximately 270 GetGo and WetGo locations. The agreement is set to have a significant impact on the company’s growth trajectory and customer loyalty initiatives.
Focus on Growth and Loyalty Programs
This strategic sale allows Giant Eagle to redirect its efforts towards enhancing its core supermarket and pharmacy operations across more than 200 stores. The popular myPerks loyalty program will continue uninterrupted, which means that customers can continue to enjoy rewards and exclusive benefits at both Giant Eagle and GetGo locations.
Comments from Leadership
Bill Artman, President and CEO of Giant Eagle, remarked on the historic nature of this sale. He highlighted that it marks not just a shift in operations but also a commitment to invest back into the community that they have served for over nine decades. The loyalty program, which is a major benefit for customers, will continue to flourish with this new ownership structure.
Bart Friedman, Board Chair of Giant Eagle, expressed confidence in the future of both companies. He noted that Couche-Tard acknowledges the value of the GetGo brand and its dedicated team. It has taken Giant Eagle two decades to shape GetGo into a symbol of quality and service, and this change is poised to foster further success.
Exciting Offers for Customers
In celebration of this transition, GetGo will introduce special offers for its customers. They are excited to continue a rewarding relationship through the myPerks program, especially with instant fuel discounts going forward.
Additional Business Developments
The sale of GetGo is not the only recent development for Giant Eagle. The company has finalized another transaction involving the sale of its wholesale motor fuels distribution business to Cary Oil company, Inc. This demonstrates a strategic shift towards focusing on core competencies and enhancing overall service offerings.
Partnerships and Advisors
Matrix Capital Markets Group, Inc. acted as the primary financial advisor during these transactions, providing essential guidance and support for Giant Eagle. Centerview Partners, LLC also aided in the sale of GetGo, while Weil, Gotshal & Manges, LLP handled the legal aspects of the sale.
About Giant Eagle
Giant Eagle, Inc. is recognized as one of the largest food retailers and distributors in the United States. Founded in 1931, it operates over 200 stores, offering a comprehensive selection of groceries and pharmacy products. The company's commitment to customer service and community involvement continues to be a cornerstone of their operations.
Frequently Asked Questions
What is the significance of the GetGo sale?
The sale allows Giant Eagle to concentrate on enhancing its core supermarket and pharmacy business, while also maintaining the myPerks loyalty program for customers.
How many GetGo locations are included in the sale?
The sale encompasses approximately 270 GetGo and WetGo locations, marking a substantial transition for both companies.
What will happen to the myPerks loyalty program?
The myPerks program will continue to function without disruption, enabling customers to earn and redeem rewards at both Giant Eagle and GetGo locations.
Who are the advisors involved in the sale?
The transaction involved several financial and legal advisors, including Matrix Capital Markets Group, Inc., Centerview Partners, LLC, and Weil, Gotshal & Manges, LLP.
How long has Giant Eagle been in business?
Giant Eagle, Inc. was founded in 1931 and has grown to become a major player in the food retail and distribution industry in the United States.
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