Circle K expands its market presence in Atlantic Canada, Canada business opportunities.ca

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Business Opportunities News
Date: 26/07/2018
Circle K expands its market presence in Atlantic Canada

LAVAL, QC, July 5, 2018 /CNW Telbec/ - Alimentation Couche-Tard Inc. ("Couche-Tard" or the "Corporation") (TSX: ATD.A) (TSX: ATD.B) Following its acquisition of CST Brands Inc. ("CST") in 2017, Alimentation Couche-Tard ("Couche-Tard") is enhancing the market presence of its Circle K brand in Atlantic Canada by reaching an agreement with Irving Oil Ltd. ("Irving") to rebrand 36 of its CST sites to Circle K convenience stores and to the Irving fuel brand. Also, as part of the joint venture between the two companies, this agreement includes selling 13 of these CST retail sites to Irving, which will all continue to be operated by Couche-Tard.

With this transaction, Couche-Tard continues to solidify its leadership in the Canadian convenience store industry and will maximize its operational expertise.

The 13 sites being sold to Irving were initially acquired through the CST transaction. Nine of them are in Nova Scotia with locations in Halifax, Dartmouth, Lower Sackville and Truro. Additional sites are in St. John's, Newfoundland, Charlottetown, Prince Edward Island, and Dieppe, New Brunswick.

Retail sites will begin transitioning immediately to Circle K and Irving with a planned completion by Fall 2018 for all locations. All sites are currently operated by Couche-Tard under the Corner Store and Ultramar brands. Couche-Tard plans to make significant investments in further expanding the Circle K brand while growing its market share across Atlantic Canada and adding some if its key food concepts in select sites, including Roller Grill, Polar Pop, Simply Great Coffee, Froster, and Bake-on-site fresh bakery products.

"With our new global Circle K brand we are setting out to make it easy for existing and new customers in Atlantic Canada! We are continuing on our journey to become the world's preferred destination for convenience and fuel, with a fresh look and feel and even better products for people on the go, always combined with fast and friendly service," stated Pierre Peters, Vice-President Operations, Quebec East & Atlantic region.

The global Circle K convenience brand was launched in September 2015. The new brand replaces existing Circle K, Statoil, Mac's and Kangaroo Express brands on stores and service stations across Canada (except in Quebec), the United States, Europe and more recently Russia. Since its launch, it has grown rapidly to more than 5,000 in Europe and North America.

This agreement adds 36 Circle K retail sites, for a grand total of 166 Circle K sites in Atlantic Canada. This is in line with Couche-Tard's global strategy to rebrand its sites around the world to Circle K therefore increasing its market and brand strength. In the province of Québec, the Corporation will continue to operate under the Couche-Tard brand.

Couche-Tard take great pride in the long-standing partnerships she have with communities in Atlantic Canada, supporting such causes as the children's health and families across the region. In recent years, she has supported the IWK Health Centre, the Janeway Children's hospital foundation, and the Children's Wish Foundation and plans to continue down this path!

About Alimentation Couche-Tard Inc.

Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of the number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic countries (Estonia, Latvia and Lithuania), and in Ireland and also with an important presence in Poland.

As of February 4, 2018, Couche-Tard's network comprised 10,020 convenience stores throughout North America, including 8,698 stores with road transportation fuel dispensing. Its North American network consists of 19 business units, including 15 in the United States covering 48 states and 4 in Canada covering all 10 provinces. Approximately 100,000 people are employed throughout its network and at its service offices in North America. In addition, through CrossAmerica Partners LP, Couche-Tard supplies road transportation fuel under various brands to more than 1,300 locations in the United States.

In Europe, Couche-Tard operates a broad retail network across Scandinavia, Ireland, Poland, the Baltics and Russia through ten business units. As of February 4, 2018, Couche-Tard's network comprised 2,730 stores, the majority of which offer road transportation fuel and convenience products while the others are unmanned automated fuel stations which only offer road transportation fuel. Couche-Tard also offers other products, including stationary energy, marine fuel, aviation fuel and chemicals. Including employees at branded franchise stores, approximately 25,000 people work in its retail network, terminals and service offices across Europe.

In addition, under licensing agreements, more than 1,900 stores are operated under the Circle K banner in 14 other countries and territories (China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, Saudi Arabia, the United Arab Emirates and Vietnam), which brings the worldwide total network to more than 15,900 stores.

For more information on Alimentation Couche-Tard Inc. or to consult its quarterly Consolidated Financial Statements and Management Discussion and Analysis, please visit: http://corpo.couche‑tard.com.

Forward-Looking Statements

The statements set forth in this press release, which describe Couche-Tard's objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as "will", "plan", "evaluate", "estimate", "believe", "expect" and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in documents filed by Couche-Tard with securities regulatory authorities in Canada. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this press release is based on information available as of the date of the release.

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