In light of the ongoing Russian war against Ukraine, the Company is suspending work in its 38 stores in Russia, taking care of employees, and safely winding down operations
LAVAL, QC, March 7, 2022 /CNW/ - Alimentation Couche-Tard Inc. ("Couche-Tard" or the "Company") (TSX: ATD) announces that, effective immediately, the Company is suspending operations in Russia and implementing plans to take care of its employees in a responsible and safe manner.
Brian Hannasch, President and CEO of Couche-Tard added: "We condemn Russia's aggression against Ukraine and the huge human impact it is having for both Ukrainians and Russians. As such, we have made the decision to suspend operations. Couche-Tard has had stores in Russia for nearly three decades, and we are proud of our Russian team members and their dedicated service to local customers and communities."
In Russia, Couche-Tard has operated under its primary brand Circle K including over 320 employees and 38 stores located in St. Petersburg, Murmansk, and Pskov.
The Company has already donated over US $1.5 million to the Red Cross and has instituted a global campaign to raise further funds for the Ukrainian people. Since the beginning of the crisis, local Circle K teams in Poland, the Baltics, and across the European network have been supporting refugees with free fuel, food and beverages, housing, and donations to children's charities.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and fuel retail, operating in 26 countries and territories, with close to 14,200 stores, of which approximately 10,800 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong SAR. Approximately 124,000 people are employed throughout its network.
For more information on Alimentation Couche-Tard Inc. or to consult its quarterly Consolidated Financial Statements and Management Discussion and Analysis, please visit: https://corpo.couche-tard.com.
Forward-Looking Statements
Certain statements in this press release may constitute forward looking statements within the meaning of securities legislation, including those with respect to the potential transaction. Positive or negative verbs such as "believe", "can", "shall", "intend", "expect", "estimate", "assume" and other related expressions are used to identify such statements. Such statements are based upon the current beliefs and expectations of Couche-Tard and are subject to significant risks and uncertainties outside of Couche-Tard's control. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated in or underlying these statements, or could have an impact on the degree of realization of a particular projection. 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.
For further information:
Investor Relations
Jean-Philippe D. Lachance, Vice President, Investor Relations & Treasury, Tel: (450) 662-6632, ext. 4619
investor.relations@couche-tard.com
Media Relations
Lisa Koenig, Head of Global Communications
Tel: (450) 662-6632, ext. 6611
communication@couche-tard.com
