Alimentation Couche-Tard Inc. is the largest convenience-store operator in Canada and has a considerable presence in the United States, and around the world. Laval, Quebec-based Couche-Tard's network includes approximately 6,250 convenience stores throughout North America, including nearly 5,000 with motor fuel dispensing.
Its North American network consists of 13 business units, including nine in the United States covering 39 states and the District of Columbia (under the Circle K brand) and four in Canada (under the Mac's and Couche-Tard brands) covering all 10 provinces.
Since Couche-Tard's first store opened in 1980, its growth through acquisition has been nonstop. Couche-Tard's acquisition strategy is very powerful because of the ongoing implementation of its IMPACT Program (Innovation-Marketing-People-Alimentation-Couche-Tard). Under IMPACT, the product and service mix is designed to create a more attractive ambience that appeals to consumers and boosts high-margin product sales.
The company believes it is imperative that stores evolve by offering more choice with better design. Each site chosen is adapted to the socioeconomic and cultural uniqueness of the local community with the assistance of a multidisciplinary team made up of specialists in the fields of marketing, merchandising, real-estate services, interior design and operations.
Q2 2015 Update
In June, Cinco J Inc., dba Johnson Oil Co. and Tiger Tote Food Stores Inc., announced that Alimentation Couche-Tard’s Circle K closed on the acquisition of Tiger Tote’s 21 “The Tote” convenience stores and Johnson Oil’s 182 dealer locations. The stores will be rebranded to the Circle K brand, while the retail fuels and dealer locations will retain their current fuel brands through Circle K’s National Wholesale Fuel branding agreements.
Q1 2015 Update
The first quarter of 2015 was certainly a busy one for Alimentation Couche-Tard/Circle K.
On March 16, Couche-Tard completed its merger with The Pantry Inc. The all-cash transaction, in the amount of $860 million, represented a per-share price of $36.75, with a total enterprise value of approximately $1.7 billion including debt. The transaction purchase price represented a 27% premium to The Pantry’s closing share price on Dec. 16, 2014. Post-merger, the combined U.S. and Canadian store count is more than 7,800.
Couche-Tard also announced that it acquired 21 Tiger Tote Food Stores, as well as 151 dealer fuel supply agreements in Texas, Mississippi and Louisiana from Cinco J Inc., dba Johnson Oil Co. of Gonzales, Texas. It is anticipated that all of the acquired stores will be converted to the Circle K brand.
|No. of Stores:||5732|
|Average Store Size:||2,500-4,000 sq. ft.|
|Rank Last Year:||2|
|States of Operation:||Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Missouri, Nevada, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Washington, Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec, Saskatchewan|