Circle K parent company Alimentation Couche-Tard has entered a definitive agreement with Irving Oil to acquire certain retail assets in Québec and Ontario.
The transaction includes 50 retail sites already operated by Couche-Tard under the Québec Alliance between Irving Oil and Couche-Tard, as well as two retail sites in Pembroke and Cornwall, Ontario, already operated by Couche-Tard. It also covers fuel supply to 71 retail sites owned and operated by Couche-Tard in Québec.
The assets also include 18 cardlock sites, comprising 16 in Québec and two in Ontario. Of these, 16 are co-located with retail sites included in the transaction and two are adjacent to sites already owned and operated by Couche-Tard.
“This agreement builds on our longstanding relationship with Irving Oil and our experience operating these locations,” said Stéphane Trudel, senior vice president of operations at Alimentation Couche-Tard. “These are markets and customers we know well. The transaction would support our continued investment in the everyday convenience experience we offer our customers.”
Today, Couche-Tard operates in 27 countries and territories, with more than 17,200 stores.
As the retailer continues to grow its network, it is posting positive financial results heading into 2027. In early September, Couche-Tard reported net earnings of of $828.5 million compared with $782.5 million in the same quarter last year.
“We are encouraged by the start to fiscal 2027 and the continued progress we are making through Core + More,” said Alex Miller, president and CEO, Couche-Tard. “We delivered our fifth consecutive quarter of positive same-store merchandise sales growth in the U.S., supported by continued momentum in food, energy drinks and other nicotine products.”
Total merchandise and revenue services came in at $4.9 billion for the quarter — an increase of 4.1%. Same-store merchandise revenues increased by 1.7% in the U.S., and by 1.2% in Europe and other regions, while it remained stable in Canada.
Same-store road transportation fuel volumes decreased by 1.6% in the U.S. and by 4.3% in Europe and other regions, while increasing by 1.1% in Canada.
At the end of the first quarter of fiscal 2027, Couche-Tard announced plans to acquire all of the issued and outstanding shares of Żabka Group, Poland’s largest convenience retailer, operating more than 13,000 convenience stores across Poland and Romania.
“The first quarter demonstrates the balance we are achieving across the business, delivering adjusted EBITDA growth of 10.5% and adjusted diluted earnings per share growth of 15.4%, while maintaining normalized expense growth well below inflation,” said Filipe Da Silva, chief financial officer, Couche-Tard. “At the same time, we continue to invest in customer value and traffic-driving initiatives, advancing our strategic priorities and focusing on delivering sustainable long-term earnings growth.”
