Alimentation Couche-Tard completes acquisition of Convenience Retail Asia

The acquisition adds Circle K HK’s 340 company-operated sites in Hong Kong, and 33 franchised sites in Macau, providing Couche-Tard with a platform for growth in Asia.

Alimentation Couche-Tard Inc. has closed its acquisition of Convenience Retail Asia Limited (Circle K HK), marking Couche-Tard’s entrance into the Asian market. The two retail companies announced the approximately $360-million deal on November 4.

Circle K HK operates a network of Circle K-licensed convenience stores, with 340 company-operated sites in Hong Kong and 33 franchised sites in Macau.

This acquisition provides Couche-Tard “with a platform in Asia from which to launch its regional growth ambitions,” says a company’s press release.

"Circle K Hong Kong is one of the best convenience store operators in Asia and will be an excellent fit within our company. We are pleased to have completed this transaction rapidly and are excited to work with our new teams to advance our growth strategy in the region," said President and CEO of Couche-Tard, Brian Hannasch.

As of October 11, 2020, Couche-Tard's network comprised 9,261 convenience stores throughout North America. In Europe, Couche-Tard operates a broad retail network across Scandinavia, Ireland, Poland, the Baltics and Russia with 2,722 stores. In addition, more than 2,220 stores were operated under the Circle K banner in 15 other countries and territories, which brings the worldwide total network to more than 14,200 stores.