Circle K has been a successful convenience store operator for over 60 years.
Circle K is a highly sought after net lease C-store tenant. Investors are attracted to their fully passive NNN leases which are backed by an investment grade corporate guarantee from the parent company Alimentation Couche-Tard Inc. Circle K stores also feature strong intrinsic real estate as they are almost always located at highly trafficked intersections. Furthermore, because many Circle K stores feature gasoline, investors can take advantage of accelerated depreciation on building improvements.
As of February 3, 2019, Couche-Tard has 9,933 convenience store across North America operating under one of their various brands. The Couche-Tard network also consists of 2,709 stores in Europe and licensing agreements add another 2,100 stores around the globe.
The parent company of Circle K - Alimentation Couche-Tard Inc. - is the largest independent convenience store operator (regardless of petroleum integration) in terms of number of company-operated stores in North America. It has four main store brands: Couche-Tard, Kangaroo Express, Mac's and Circle K. Recently, Couche-Tard acquired Topaz, Ireland’s largest convenience and fuel retailer. Couche-Tard is making a continuous effort to rebrand all of their existing locations under the Circle K banner, except for the Couche-Tard retail brand locations in the province of Quebec due to specifics of that market.