Alimentation Couche-Tard Inc.

What does Alimentation Couche-Tard own?
Alimentation Couche-Tard owns the Circle K convenience store brand, its primary global banner operating approximately 17,000 stores across 29 countries. The company also operates the Couche-Tard and Ingo banners in select markets, Holiday Stationstores in the upper Midwest United States, and GetGo Cafe + Markets (acquired in June 2025) as a separate business unit. The company owns the 7 Jours chain in Quebec.

Is Alimentation Couche-Tard publicly traded?
Yes. Alimentation Couche-Tard Inc. trades on the Toronto Stock Exchange under ticker ATD. The company is a constituent of the S&P/TSX 60 index. It has been publicly traded since its IPO and is widely held by institutional investors. No single shareholder holds a controlling stake, though the founding partners retain significant ownership.

Who founded Alimentation Couche-Tard?
Alain Bouchard founded the company in 1980 by opening a single convenience store in Laval, Quebec. He partnered with Jacques D'Amours, and by 1984 Richard Fortin and Real Plourde had joined as partners. Bouchard served as CEO, D'Amours managed real estate, Fortin oversaw finances, and Plourde handled operations. Bouchard currently serves as Executive Chairman.

What is Couche-Tard's revenue?
For fiscal year 2025 (ended April 27, 2025), Couche-Tard reported revenues of $72.9 billion, operating income of $13.0 billion, and net income of $3.8 billion. The company operated approximately 17,000 stores and employed approximately 149,000 people. Road transportation fuel revenues were $53.9 billion, with merchandise and service revenues of $17.5 billion.

What happened with the Seven & i takeover bid?
Couche-Tard made an unsolicited offer for Seven & i Holdings in August 2024, initially valued at approximately $38 billion. The bid was raised to approximately $47 billion. Seven & i's board rejected the offer, citing antitrust concerns and undervaluation. Couche-Tard withdrew the bid in July 2025, citing a lack of constructive engagement. The bid would have been the largest foreign takeover of a Japanese company.

What is the GetGo acquisition?
In June 2025, Couche-Tard completed the $1.6 billion acquisition of GetGo Cafe + Markets from Giant Eagle, adding approximately 270 stores in Pennsylvania, Ohio, West Virginia, Maryland, and Indiana. The FTC required divestiture of 35 locations to Majors Management. GetGo operates as a separate business unit within Couche-Tard's U.S. network, with its myPerks loyalty program continuing under a partnership with Giant Eagle.

How many stores does Couche-Tard operate?
As of mid-2025, Couche-Tard operated approximately 17,000 stores worldwide, including approximately 7,100 in the United States, 2,100 in Canada, 5,260 in Europe and other regions, and 2,474 under licensing agreements in 14 additional countries. The GetGo acquisition added approximately 270 stores in June 2025.

Alain Bouchard opened his first convenience store in Laval, Quebec, in 1980, partnering with Jacques D'Amours. The store was modeled after the Quebecois depanneur, a regional style of neighborhood corner store. By 1984, Richard Fortin and Real Plourde had joined as business partners, with Bouchard as CEO, D'Amours managing real estate, Fortin overseeing finances, and Plourde handling operations.

In 1985, the company purchased 11 Couche-Tard branded stores in the Quebec City area and adopted the Couche-Tard name. The company continued acquiring regional chains, purchasing the 7 Jours chain from Metro-Richelieu in 1987 and 60 Mac's stores in 1993. These acquisitions established Couche-Tard as a significant player in the Canadian convenience store market.

Couche-Tard entered the United States market in 2001 by acquiring Bigfoot stores in the Midwest. The pivotal acquisition came in 2003, when Couche-Tard purchased Circle K Corporation from ConocoPhillips for approximately $804 million. The deal included approximately 1,600 stores in 16 states and gave Couche-Tard a major U.S. footprint. Circle K became the company's primary U.S. banner.

In 2012, Couche-Tard acquired Statoil Fuel and Retail for approximately $2.8 billion, adding 2,300 stores across Scandinavia and the Baltics. This acquisition established Couche-Tard as a major European convenience store operator. In 2015, the company launched the Circle K brand as its global banner, replacing regional names including Mac's in Canada, Topaz in Ireland, and Statoil in Scandinavia. The rebranding unified the company's store network under a single identity.

Also in 2015, Couche-Tard acquired The Pantry, Inc., adding approximately 1,500 stores in the southeastern United States under the Kangaroo Express banner, which were later rebranded to Circle K. The company continued expanding through smaller acquisitions and organic store openings, reaching approximately 16,000 stores by the early 2020s.

Starting in December 2023, Couche-Tard acquired certain European retail assets from TotalEnergies SE, bringing the Circle K brand to four new European countries. The company reported that synergies from this acquisition were on track one year into the integration.

In August 2024, Couche-Tard made an unsolicited takeover offer for Seven & i Holdings, the Japanese parent of 7-Eleven, initially valued at approximately $38 billion. The bid was raised to approximately $47 billion, but Seven & i's board rejected the offer, citing antitrust concerns and undervaluation. Couche-Tard withdrew the bid in July 2025, citing a lack of constructive engagement. The attempted acquisition would have been the largest foreign takeover of a Japanese company in history.

In June 2025, Couche-Tard completed the $1.6 billion acquisition of GetGo Cafe + Markets from Giant Eagle, adding approximately 270 stores. The company divested 35 locations to Majors Management to satisfy FTC requirements. As of 2026, Couche-Tard operates approximately 17,000 stores across 29 countries and territories.

Couche-Tard operates a global sustainability framework organized around three pillars: Prosperity, People, and Planet. The company has committed to a $1 billion investment in renewable energy projects over 10 years starting in 2020, with a goal of 10,000 renewable fuel dispensers globally. As of 2024, approximately 4,300 renewable dispensers were operational.

In packaging and waste, Couche-Tard exceeded its 2025 goal of improving packaging sustainability by 25% compared to a 2020 baseline. As of 2025, 29% of the packaging portfolio by weight met sustainable attributes, including recycled content and certified materials. The company has upgraded 12,000 HVAC systems and installed solar panels at select sites.

In Europe, Circle K Ireland signed a corporate power purchase agreement with EDF Renewables in 2024, covering all 168 company-owned Irish sites with solar energy through 2036. The company operates over 2,500 EV charging points in Europe and 262 in North America. In Sweden, over 50 heavy-truck charging points are operational.

Couche-Tard has introduced HVO (hydrotreated vegetable oil) fuels as a cleaner alternative to traditional diesel. The company aims to introduce a biofuel blend with 25% renewable content. Energy management systems have been rolled out across the store network to monitor and reduce consumption, with a goal of 50% reduction in Scope 1 and 2 energy emissions.

Couche-Tard and its Circle K banner have faced several legal and regulatory issues in recent years.

The New Mexico Department of Justice sued Circle K and FEMSA affiliates in April 2026 for selling flavored disposable e-cigarette products alleged to cause childhood nicotine addiction. The lawsuit claimed violations of the New Mexico Unfair Practices Act. Circle K operated approximately 100 stores in New Mexico at the time.

A CNN and ICIJ investigation in December 2025 found that Circle K stores hosting crypto ATMs operated by Bitcoin Depot were sites of numerous fraud incidents. The investigation reviewed over 150 cases. Couche-Tard renewed its agreement with Bitcoin Depot despite the findings, drawing criticism from consumer advocates.

A Circle K station in Nokomis, Florida, inadvertently delivered diesel fuel into a gasoline storage tank in January 2026, causing vehicle damage for multiple customers. Circle K shut down the pumps, cleaned the tanks, and offered reimbursement for repairs.

In Arizona, two Circle K employees claimed in court filings in July 2026 that a company policy required workers to purchase accidentally printed lottery tickets. The dispute centers on a $12.8 million winning ticket, with Circle K filing a complaint asking a court to determine ownership.

Gas Express LLC, a Circle K franchisee operating approximately 200 locations, reached a preliminary class action settlement in May 2026 after a 2024 data breach compromised employee information. Impacted employees could receive up to $2,000 for out-of-pocket losses.

The failed $47 billion bid for Seven & i Holdings drew scrutiny from antitrust regulators in the United States and Japan. Seven & i's board cited antitrust concerns as a primary reason for rejecting the offer, given that a combined entity would control the top two U.S. convenience store chains. The FTC had already required divestiture of 35 locations for the much smaller GetGo acquisition, indicating the regulatory hurdles a Seven & i deal would face.