FTC v Couche Tard: An Example on Addressing Merger Concerns

Case Study

The Federal Trade Commission (FTC) has conditionally approved Alimentation Couche-Tard Inc.'s acquisition of Giant Eagle, Inc. This acquisition raises competitive concerns as both companies operate within the retail fuel sector. Specifically, Circle-K, Couche-Tard's U.S. subsidiary, operates gasoline stations with convenience stores that compete directly with Giant Eagle in Indiana, Ohio, and Pennsylvania. To address these concerns, the FTC and Couche-Tard have reached a consent order that requires the divestiture of overlapping stations. In this note, we will examine the FTC's concerns and the resolution reached to address them.