Alimentation Couche-Tard signed a master licensing agreement with Canadian cannabis retailer Fire & Flower Holdings, according to MJBizDaily.
“Fire & Flower is required to notify Couche-Tard only of new franchise or licensing opportunities and has agreed to negotiate with Couche-Tard for an exclusive negotiation period prior to entering into a new franchise or licensing agreement in Canada, the U.S. and certain European markets,” Fire & Flower CEO Stéphane Trudel, a former Couche-Tard executive, wrote in an emailed statement to MJBizDaily.
Couche-Tard is also required to notify Fire & Flower of any opportunities in relation to cannabis retail store operations in Canada, the U.S. and certain European markets. The operator of Circle K c-stores has agreed to an exclusive negotiation period with Fire & Flower before entering into new business relationships.
Under the agreement, five already-opened MC Cannabis stores in the greater Toronto area — all located next to Couche-Tard’s Circle K convenience stores — will be rebranded to Fire & Flower, according to MJBizDaily.
Couche-Tard owns about 35% of Fire & Flower and is a key lender to the cannabis retailer.
The Circle K division of Laval, Quebec-based Couche-Tard made headlines last October for a deal with Green Thumb Industries to locate medical marijuana stores next to Circle K convenience stores in Florida.
That deal is now mired in litigation.
Fire & Flower operated 92 Canadian cannabis retail stores as of the end of 2022.
Couche-Tard operates in 24 countries and territories, with more than 14,300 stores, of which approximately 10,900 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and is prominent in Canada, Scandinavia, the Baltics and Ireland. It also has an important presence in Poland and Hong Kong SAR. Approximately 122,000 people are employed throughout its network.