LAVAL, Quebec -- The acquisition of Dairy Mart Convenience Stores Inc. by Alimentation Couche-Tard Inc. became official yesterday. Through its U.S. subsidiary, Mac’s Convenience Stores LLC, Couche-Tard became the owner of 287 Dairy Mart stores, for a total cost of $79.5 million (U.S.), including $13.5 million (U.S.) for the store inventories. This deal is matched with a one-year management contract for the chain’s remaining 150 stores, some of which could be acquired by Mac’s, while others could be closed or sold on behalf of Dairy Mart. An additional $4.4 million (U.S.) will be paid for the inventories of those stores. With this acquisition, Couche-Tard now has 545 stores in the U.S. Midwest.

During a private tour of the chain’s operations with CSP's Paul Reuter and Renee Pas yesterday, Alain Bouchard, chairman and CEO of Couche-Tard, said the company will continue its expansion in the Midwest with the goal of building a business unit of about 600 stores in the region.

NEW ORLEANS --- A federal appeals court has upheld a $5.7 million judgment for a group of independent gasoline dealers who claimed Exxon Mobil Corp. tried to put them out of business by setting the dealer tankwagon price at an "uncompetitive level"--charging them excessive gasoline prices, says an Associated Press report.

The plaintiff franchisees--James Mathis, Mohammed Abou-Harb, George Acosta, Musa Adi, Mazen Allaham and others--operate stations in the Houston and Corpus Christi, Texas, areas, said the court opinion. They alleged that Exxon violated the law and its contracts with them "for the purpose of converting their stores to [company-operated retail stores] by driving the franchisees out of business," it added.