Alimentation Couche-Tard Inc. and CrossAmerica Partners LP Agree to Pay $3.5 Million Civil Penalty to Settle FTC Allegations that they Violated 2018 Order

Retail fuel station and convenience store operatorAlimentation Couche-Tard Inc. (ACT) and its former affiliate, CrossAmerica Partners LP (CAPL), have agreed to pay a $3.5 million civil penalty to the FTC to settle allegationsthat they violated a 2018 order requiring divestitures of 10 retail fuel stations in Minnesota and Wisconsin to Commission-approved buyers no later than June 15, 2018.

Metadata

Provider:

FTC

URL:

https://www.ftc.gov/news-events/press-releases/2020/07/alimentation-couche-tard-crossamerica-partners-agree-to-pay-civil-penalty

Retrieved on:

Monday, July 6, 2020

Information

Tags:

Alimentation Couche-Tard, S&P/TSX 60 Index, Retailers, Circle K, Retailing, United States v. Google Inc.

Summary

Key Points:

Retail fuel station and convenience store operatorAlimentation Couche-Tard Inc. (ACT) and its former affiliate, CrossAmerica Partners LP (CAPL), have agreed to pay a $3.5 million civil penalty to the FTC to settle allegationsthat they violated a 2018 order requiring divestitures of 10 retail fuel stations in Minnesota and Wisconsin to Commission-approved buyers no later than June 15, 2018.
The 2018 order settled FTC charges that ACTs and CAPLs acquisition from Holiday Companies of approximately 380 retail fuel stations with attached convenience stores in 10 states was anticompetitive because it would have increased the risk of both unilateral and coordinated anticompetitive effects in 10 local retail fuel markets.
The FTC alleges that ACT and CAPL violated the 2018 order by:
The Commission votes to authorize the staff to file the civil penalty complaint and to approve the proposed judgment, and to issue a Commission Statement were both 5-0.The FTC filed the complaint and proposed judgment in U.S. District Court for the District of Columbia.
Judgments have the force of law when approved and signed by the District Court judge.