The Circle K Brand in Vietnam

Alimentation Couche-Tard Inc. has announced 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.

Source: Alimentation Couche-Tard inc.

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