24 countries and territories: United States, Canada, Denmark, Estonia, Ireland, Latvia, Lithuania, Norway, Poland, Sweden, Hong Kong, Cambodia, Egypt, Guam, Guatemala, Honduras, Indonesia, Jamaica, Macau, Mexico, New Zealand, Saudi Arabia, South Africa, Vietnam, UAE [2]
Alimentation Couche-Tard Inc., or simply Couche-Tard, is a Canadian multinational operator of convenience stores. The company has 14,302 stores across Canada, the United States, Mexico, Ireland, Norway, Sweden, Denmark, Estonia, Latvia, Lithuania, Poland, Russia, Japan, China, and Indonesia. The company operates its corporate stores mainly under the Couche-Tard, Circle K, and On the Run brands but also under the affiliated brands Mac's Convenience Stores, go! (Go Store), 7-jours, Dairy/Daisy Mart, Becker's and Winks.
Founded by current chairman Alain Bouchard, the corporation is based in Laval, Quebec, Canada, a suburb of Montreal. The flagship Couche-Tard and Mac's stores, as well as some older Winks outlets, prominently feature a distinctive anthropomorphic red, winking owl. This mascot, named "Jandrice", was inherited from the Provi-Soir/ Winks chain when it was absorbed in the late 1990s.
In French, "couche-tard" means "(the type of person who) goes to bed late", with connotations very similar to "night owl" in English.
History
Alain Bouchard opened his first convenience store in 1980 in Laval. In 1985, Bouchard acquired 11 "Couche-Tard" branded stores in the Quebec City area which he merged with its existing stores in the Montreal area to rename the whole company "Alimentation Couche-Tard". In 1987, the company purchased the 7 Jours chain from Metro-Richelieu, which Couche-Tard has kept a separate chain to this day.
In 1992, the chain gradually converted to the new discount banner "Dépan-Escompte", beginning with 34 stores mostly located in the Quebec City area.[7] In 1993, the company purchased 54 Mac's and La Maisonnée convenience stores from the troubled Silcorp Ltd. of Toronto.[8] In 1994, Couche-Tard completed the conversion of its 182 stores to the Dépan-Escompte banner which included the Mac's/La Maisonnée locations but not the 7 Jours chain.[8] In the summer of 1994, Couche-Tard made a deal to acquire the 86 convenience stores from the Perette chain which had filed for bankruptcy protection in June 1994.[8] During the Dépan-Escompte era, a piggy bank mascot was adopted[9] and replaced the previous Couche-Tard sleepwalker mascot from the late 1980s and early 1990s.[10][11]
In May 1997, Couche-Tard acquired C Corp, a subsidiary of Provigo that owned the chains Provi-Soir in Quebec, Winks in Ontario and Red Rooster in Alberta.[12] Couche-Tard, which was already dominating its industry, grew to 610 outlets in Canada following the transaction.[12] In early 1999, Dépan-Escompte Couche-Tard and Provi-Soir merged into a single branding; reverting to the Couche-Tard name without "Dépan-Escompte" (albeit with a new logotype), but adopting the owl mascot of Provi-Soir.[13] The company has since revived the Provi-Soir name in Quebec which it keeps as a distinct chain, much like the 7 Jours division.[14] The new Provi-Soir, basically a combination of rebranded Couche-Tard and 7 Jours locations, does not feature the owl mascot from the original chain and its logotype is completely different than in its last incarnation.
Similarly, Silcorp had consolidated several of the largest Ontario convenience-store chains, such as Mac's and Becker's, under its ownership before being itself acquired by Couche-Tard. As in Quebec, other corporate banners such as Becker's and Mike's Mart are slowly being phased out in favour of the dominant Mac's brand, although new franchised stores are still being opened under the Winks and Daisy Mart brands.
In 2001, Couche-Tard broke into the American market with the acquisition of 172 Bigfoot convenience stores from Johnson Oil Company of Columbus, Indiana.[15]
After making some tentative moves in the U.S. under the Mac's brand in the early 2000s, Couche-Tard acquired the Circle K chain from ConocoPhillips in 2003, promptly rebranding its existing U.S. locations to the better-known Circle K moniker. The Circle K brand is also franchised in Asia and elsewhere.
Couche-Tard held the master franchise for Dunkin' Donuts in Quebec since August 2003, but agreed in August 2008 to terminate this franchise within 12 to 18 months.[16]
In early 2010, Couche-Tard started consolidating its outlets in Quebec by closing down many of those that did not do well in sales, and therefore allowing the successful ones to prosper. In all, over 300 stores were closed from 2010 through 2012.
On September 23, 2015, Couche-Tard announced that it would relaunch the Circle K brand, and extend it to all of its stores in English Canada, the United States, and Scandinavia. The rebranding did not include its stores in Quebec, which remained under the Couche-Tard brand.[21][22]
On August 29, 2016, the purchase of 53 Cracker Barrel convenience stores in Louisiana for an undisclosed price was announced.[23] As in the case with most of its other acquisitions, the Cracker Barrel chain would also be converted to Circle K stores. The acquired chain stores all have gas stations, with the exception of one location, and 12 have quick-serve restaurants. The Cracker Barrel chain is unrelated to the restaurant chain of the same name.
In July 2017, Couche-Tard announced an agreement to acquire Holiday Stationstores, the 18th largest convenience store chain in the United States, with over 500 locations in 10 states.[24]
In July 2021, Couche-Tard announced a deal to purchase the 226 retail gasoline/convenience stores and marine fuel terminal of Truro, Nova Scotia-based Wilson Fuel for an undisclosed amount, pending approval by the Competition Bureau.[29] The acquisition was completed on March 1, 2023.[30] To alleviate competition concerns, Couche-Tard sold 52 locations to Harnois Énergies.[31]
Recent and current operations
Entrance of a Couche-Tard store in Montreal, Quebec
In Canada, there are 581 corporate stores in Quebec under the names Couche-Tard, Provi-Soir and Dépanneur 7 jours as well as 298 affiliated stores. In Ontario, there are 702 corporate stores and 214 affiliated stores, and in Western Canada, 305 corporate stores and 71 affiliates operated under the names Mac's, Mike's Mart, Becker's (operated independently), Daisy Mart, and Winks. Locations outside of Quebec have been rebranded as Circle K stores (excluding Becker's).[32]
Many Couche-Tard locations are gas stations co-branded with Irving Oil. The first stage of this partnership began in 2001 in Quebec. Both companies contributed locations to the partnership: some had convenience stores that previously operated under Irving's "Marché Mainway" banner, while others previously sold fuel under the Couche-Tard brand. All these locations now have Couche-Tard convenience stores and Irving-branded fuel.
The partnership expanded in 2008, as Irving leased its remaining Bluecanoe and Mainway convenience stores to Couche-Tard,[34] expanding the latter chain's reach into Atlantic Canada and New England under the Circle K brand. Irving continues to own the buildings and property, and supplies Irving-branded fuel to these stations.
On the Run stores
In the United States, approximately 470 On the Run stores are owned or franchised by Alimentation Couche-Tard under an agreement with ExxonMobil announced April 29, 2009.[35] This also includes 43 ExxonMobil stations in the Phoenix, Arizona market, all of which have been rebranded to Circle K.[36] While many On the Run stations in the United States still sell Exxon or Mobil gasoline, some franchised locations sell other brands not associated with ExxonMobil.
Circle K is an international chain of convenience stores owned by Alimentation Couche-Tard. The brand is the flagship international brand of the company, and has largely replaced other brands previously used or acquired by the company.[32]
Couche-Tard is the original brand of Alimentation Couche-Tard. The brand is present only in Québec along with Provi-Soir and Dépanneur 7 jours.[32] In 2021, Couche-Tard underwent a rebranding to align it with the Circle K brand identity.[37]
Casey's General Stores
In March 2010, Couche-Tard offered $1.9 billion for control of the Iowa-based Casey's General Stores chain, and later announced a proxy fight for control. Casey's rejected Couche-Tard's offer and was successful in September 2010 in retaining its board of directors vs. Couche-Tard's nominated slate.[38]
Statoil
On April 18, 2012, it became known that Couche-Tard had agreed to buy Norway'sStatoil Fuel and Retail (previously owned by Statoil) for $2.8 billion,[39][40] giving Couche-Tard the largest chain of petrol stations in Scandinavia and with a presence around the Baltic region, Poland, and Russia. On June 20, 2012, Statoil Fuel and Retail's shareholders voted in favor (+91.56%) of the acquisition and later it was declared that Couche-Tard had finally acquired 100% of Statoil Fuel and Retail for approximately 2.8 billion $US (forcing the minority shareholders to sell their shares). This acquisition added over 2,853 stores to Couche-Tard's portfolio and a mega-presence in Europe. Alain Bouchard planned to grow this newly acquired chain all over Europe. In 2016, all Statoil stations were rebranded to Circle K.[41]
Imperial Oil retail
On March 8, 2016, Couche-Tard announced it had agreed to purchase Imperial Oil's Esso retail locations in Ontario (228 locations) and Quebec (50 locations) for $2.8 billion. The stations' convenience stores would be re-branded as Circle K in Ontario, and all would remain supplied by Esso.[42]
CST Brands
On August 22, 2016, Couche-Tard agreed to buy American company CST Brands and its 2,000 stores, mostly in Texas and other southern states, for $3.78 billion, $4.4 billion including debt.[43][44] This deal, which was the largest purchase in their history, officially closed on June 28, 2017. Couche-Tard has announced that it will sell around 45% of the new stores to another company to pass competition laws. CST Holdings was based in San Antonio and employed over 14,000 people at the 2,000 stores Couche-Tard took over. The stores acquired were mostly in the southwestern and southeastern United States, with a small presence in New York and Eastern Canada, operating under the Corner Stores, Flash Foods, and Nice N Easy Grocery Shoppes brands.[44][45] Most locations were rebranded to the Circle K brand after the acquisition.
Due to competition concerns, most of CST's Ultramar operations in Canada were not included in the deal, which were sold off separately to Parkland Fuel Corporation.[46]
COPEC
In November 2023, Alimentation Couche-Tard Inc., finalized the acquisition of 112 MAPCO Express Inc. fuel and convenience retail sites from Compañía de Petróleos de Chile S.A. (COPEC), as part of COPEC's divestiture of its MAPCO assets. The stores, located across Tennessee, Alabama, Kentucky, and Georgia, will undergo rebranding to the Circle K identity. This transaction, which also includes surplus property and a logistics fleet, complements Couche-Tard's significant global presence, which encompasses over 14,000 stores in 24 countries and territories and employs approximately 122,000 people. Concurrently, Majors Management LLC acquired 192 MAPCO-branded stores and additional MAPCO assets, aiming to enhance service and expand both companies' market reach in the southeastern U.S.[47]
Other transactions
In January 2021, Couche-Tard and Carrefour SA announced that they are looking at operational partnerships after takeover talks were abandoned.[48]
Related Research Articles
A convenience store, bodega, convenience shop, corner store or corner shop is a small retail store that stocks a range of everyday items such as tea, coffee, groceries, fruits, vegetables, snacks, confectionery, soft drinks, ice creams, tobacco products, lottery tickets, over-the-counter drugs, toiletries, newspapers and magazines. In some jurisdictions, convenience stores are licensed to sell alcoholic drinks, although many jurisdictions limit such beverages to those with relatively low alcohol content, like beer and wine. The stores may also offer money order and wire transfer services, along with the use of a fax machine or photocopier for a small per-copy cost. Some also sell tickets or recharge smart cards, e.g. OPUS cards in Montreal or include a small deli. They differ from general stores and village shops in that they are not in a rural location and are used as a convenient supplement to larger stores.
Mac's Convenience Stores was a chain of convenience stores in Canada. The company was divided into three geographic business units: eastern Canada, central Canada, and western Canada. It had been owned and operated by Alimentation Couche-Tard since 1999. Since 2017, it served as one of Couche-Tard's two main banners in English-speaking Canada, alongside Circle K. The brand has been phased out in favour of the Circle K banner.
Circle K Stores, Inc. is a chain of convenience stores that is headquartered in Tempe, Arizona, and owned by Alimentation Couche-Tard, Inc., based in Laval, Quebec, Canada. Founded in 1951 in El Paso, Texas, the company filed for bankruptcy protection in 1990 and went through several owners, before being acquired by Alimentation Couche-Tard in 2003. As of February 2020, Circle K has 9,799 stores in North America, 2,697 stores in Europe, and an additional 2,380 stores operating under franchise agreements worldwide.
Irving Oil Ltd. is a Canadian privately-owned intergenerational gasoline, oil, and natural gas producing and exporting company, a subsidiary of the parent company Irving Group of Companies,—one of the largest "private conglomerates" in North America. Irving Oil was one established in 1924 by Canadian oil baron and billionaire, Kenneth "K.C." Irving, whose family fortune when he died in 1992 was estimated by Forbes at USD$5 billion. His son, Arthur, became chairman and president of Irving Oil.
Casey's Retail Company is a chain of convenience stores in the Midwestern and Southern United States. The company is headquartered in Ankeny, Iowa, a suburb of Des Moines. As of October 1, 2023, Casey's had 2,500 stores in 16 states. Following 7-Eleven's purchase of Speedway, Casey's is the 3rd largest convenience store chain in the United States and the largest that is wholly American-owned. It is one of two Iowa-based Fortune 500 companies. Casey's is famous for their pizza including a breakfast pizza and a taco pizza resulting in Casey's being the fifth largest pizza chain in the U.S.
Circle K Sunkus was a chain of company-operated and franchised convenience stores in Japan. The company is a division of UNY Co., Ltd., which licensed the Circle K name from Alimentation Couche-Tard, a Canadian convenience store company that owns the Circle K brand.
Provigo is a grocery retailer based in Quebec, Canada, consisting of over 300 stores and franchises throughout the province. It operates a retailing chain of stores and distribution warehouses. It is owned by Loblaw Companies Limited.
Alain Bouchard is a Canadian billionaire businessman. He is co-founder and chairman of Alimentation Couche-Tard, and also serves on the board of directors of Atrium Innovations. Both corporations are based in Quebec.
On the Run is a flagship convenience store brand developed by ExxonMobil, used at Exxon and Mobil stations in the United States and at Esso and Mobil stations internationally. Alimentation Couche-Tard acquired the On the Run trademark and franchise network in the U.S. in 2009, and Parkland Fuel did the same in Canada in 2016; ExxonMobil retains full ownership of the brand in the rest of the world.
The Pantry, Inc. was a publicly traded convenience store chain based in Cary, North Carolina that operated Kangaroo Express stores. The Pantry was founded in 1967 by Sam Wornom and Truby Proctor, Jr. in Sanford, North Carolina The company has been publicly traded since June 1999 and owned by investors since 1987, when then investor Montrose Capital purchased controlling shares from Wornom and Proctor. Recent CEOs have included the former chairman of the board and interim CEO Edwin J. Holman, who took over after Terrance M. Marks, the former president and CEO, resigned in December 2011. Dennis Hatchell was the CEO of the company as of 2012.
Ultramar is an Eastern Canadian gas and home fuel retailer, with its head office located in Montreal, Quebec. Ultramar operates gas stations and home fuel delivery in Ontario, Quebec, and Atlantic Canada.
Topaz was an Irish petroleum retail chain owned by the Canadian multinational, Couche-Tard, which had a presence across the island of Ireland. The legal entity was formed in 2005 and previously traded under the Statoil and Shell brands, until 2008 when the Topaz brand replaced both in Ireland. In June 2018, The Topaz brand was replaced by Circle K.
Becker's is a Canadian chain of independent convenience stores selling products of Alimentation Couche-Tard company. The original Becker Milk Company was founded in 1957 in Toronto, Ontario. The chain grew from 5 to 500 stores and was sold in 2006 to Alimentation Couche-Tard. The company converted the company-owned stores to Mac's Milk and later to Circle K, leaving a remnant of affiliate Becker's stores. Starting in 2013, Alimentation Couche-Tard began expanding the affiliate program. There are now over 40 stores in Ontario.
Statoil Fuel & Retail was a Norwegian energy retail company, formed by the 2010 separation of the downstream business of Statoil ASA into a separate listed company.
Holiday Stationstores is a chain of gasoline and convenience stores in the United States. It is part of the second largest convenience store chain in the world, with over 500 locations in 10 states. Stationstores are located in Alaska, Idaho, Michigan, Minnesota, Montana, North Dakota, South Dakota, Washington, Wisconsin and Wyoming. It is based in Bloomington, Minnesota. Holiday ranked 133rd on Forbes' list of America's largest private companies before its 2017 acquisition. In July 2017, Holiday was acquired by Canadian-based convenience store operator Alimentation Couche-Tard.
CST Brands, Inc. was an American publicly traded fuel and convenience retailer. It was the second-largest of its kind in North America, with 1,900 outlets in the U.S. and Canada. CST Brands had 2013 revenues of about $12.8 billion and made approximately $360 million in EBITDA. Stores were concentrated in the central and southwestern U.S. states and in eastern Canada. Corner Store was the firm's primary retail brand in the US and in Canada's English speaking provinces. In Canada's French speaking provinces, Dépanneur du Coin was the company's retail brand. In addition to convenience store retail sales, CST Brands also sold fuel under a number of licensed energy brands such as Valero, Exxon, Shell, and Phillips 66.
National Convenience Stores Incorporated is a convenience store company headquartered in Houston, Texas. Its primary subsidiary, Stop-N-Go Foods Inc., is/was the company controlling the convenience stores.
Parkland Corporation is a Calgary, Alberta-based energy and retail company. Parkland operates gas stations under the Pioneer, Columbia Fuels, Ultramar, Chevron, and Fas Gas Plus brands, as well as franchised Esso locations. The company holds the rights to the convenience store brand On the Run in Canada and most of the United States, and franchises White Spot's fast food restaurant chain Triple O's in Alberta, British Columbia, and Ontario. Parkland also operates commercial oil and gas businesses under the Bluewave Energy, Sparlings, and Ultramar brands.
Jacques D'Amours is a Canadian billionaire businessman, and a director and co-founder of the convenience store chain Couche-Tard.
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$71.86 billion (2023) [3] 
