Alimentation Couche-Tard has closed its acquisition of Convenience Retail Asia (BVI) Ltd., also known as Circle K HK. The transaction was originally announced on Nov. 4, of last year.
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. The acquisition represents a significant milestone for Couche–Tard as it provides the company with a platform in Asia to launch its regional growth ambitions.
“Circle K Hong Kong is one of the best convenience store operators in Asia and will be an excellent fit within our company,” said Couche-Tard President and CEO Brian Hannasch. “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.”
Couche-Tard has established a global presence with a worldwide total network to more than 14,200 stores. It has 9,261 convenience stores throughout North America, where it 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 nations of Norway, Sweden and Denmark, in the Baltic countries of Estonia, Latvia and Lithuania, as well as in Ireland, and also has an important presence in Poland.
The company also has licensing agreements for more than 2,220 stores operating under the Circle K banner in 15 other nations and territories, including Cambodia, Egypt, Guam, Guatemala, Honduras, Hong Kong, Indonesia, Jamaica, Macau, Mexico, Mongolia, New Zealand, Saudi Arabia, the United Arab Emirates and Vietnam.