The Circle K Brand in Vietnam
ATD.A, ATD.B / TSX LAVAL, QC, May 4 /PRNewswire-FirstCall/ -- Alimentation Couche-Tard Inc. announces that it has, through a wholly-owned subsidiary, signed a master franchise and license agreement for the exclusive development of the Circle K Brand in the Socialist Republic of Vietnam, with GR Vietnam International Limited ("GR Vietnam"). According to a confidentiality agreement between the parties, the financial arrangements cannot be disclosed at this time.
"We are pleased about the opportunity to grow the brand in Vietnam and believe that GR Vietnam will be a positive addition to our international licensing portfolio, complementing our 3,599 stores we now have outside the U.S and Canada. The convenience store industry in Vietnam is still developing and foreign operators currently have limited access and presence in the Vietnam market. GR Vietnam has chosen Circle K for its sophisticated system for the establishment and operation of convenience stores, which include management information systems, system communications and distinctive exterior and interior design. Although of limited impact on the company's profitability, this agreement will strengthen Circle K's brand value outside North America" indicated Rick Hamlin, Senior Director, Circle K Franchise. Profile
Alimentation Couche-Tard Inc. is the leader in the Canadian convenience store industry. In North America, Couche-Tard is the second largest independent convenience store operator (whether integrated or not with a petroleum company) in terms of number of stores. Couche-Tard currently operates a network of 5,690 convenience stores, 3,440 of which include motor fuel dispensing, located in eleven large geographic markets, including eight in the United States covering 29 States and three in Canada covering six provinces. Some 45,000 people are employed throughout Couche-Tard's retail convenience network and executive offices. The statements set forth in this press release, which describes Couche-Tard's objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as "plan", "evaluate", "estimate", "believe", "expect" and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very natures, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projections. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in the reports filed by Couche-Tard with securities authorities in Canada and the United States. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release.
CONTACT: Rick Hamlin, Senior Director, Circle K Franchise, (602)
2008-05-04 18:05:40 0351915 PRNEWSWIRE
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