Couche-Tard Says it Will Add at Least 750 Stores to its Retail Network Over Next Five Years

Alimentation Couche-Tard intends to add at least 750 stores over the next five years through new store construction and single-site acquisitions, the company said Wednesday in an investor presentation.

The presentation also said Couche-Tard will expand through “opportunistic”regional and large-scale acquisitions and by adding sites to its franchise network.

Couche-Tard plans new construction in “fast-growing” suburban areas, entering new markets and enhancing its current footprint. It also intends to expand its “high performing” network of about 1,400 rural sites. The company plans to add high-speed diesel locations, quick-serve restaurants and car washes to “future proof” its business.

Commenting on its M&A strategy, Couche-Tard said “growing our footprint in the U.S. market remains our top priority.” But there are “significant synergies to be unlocked in Europe by filling in the regional gaps for our current network.”

Latin America and Southeast Asia are also “highly attractive” expansion targets, the presentation said.

Though it continues to expand its electric charging business, the company made it clear fuel is important to its growth, saying it has “industry-leading fuel margins” and “operates at a lower break-even than the rest of the market.”

A chart using NACS data suggests that Couche-Tard’s fuel break-even margin is about 40% lower than the industry average.

Couche-Tard said it will continue “beating the market” in the fuel business using its rewards program and special promotions, as well as “accelerating” business-to-business growth, price optimization and supply chain efficiencies.

The company’s Circle K Fuel brand has seen substantial growth. In the U.S., its rank based on gasoline brand market share by visits rose from 15th at 2.12% in 2019 to second place at 4.95% in 2024, according to OPIS MarketSharePro. In 2025, Circle K continued in second place at 4.98%, behind long-time frontrunner Shell at 8.21%.

Couche-Tard said it has a coast-to-coast presence in Canada and a U.S. footprint spanning 48 states. It also has a “leading” market share in many European Markets.

The corporation has a global network of 17,270 stores, including 7,308 in the U.S., 2,082 in Canada, 5,247 in Europe and other regions and 2,633 operated by licensees internationally.

Reporting by Donna Harris, dharris@opisnet.com