Circle K, a well-known convenience store chain in Arizona, has become a staple on the busiest corners of many communities throughout the state. Originally founded by Arizonan Karl Eller, Circle K grew to become the second-largest convenience store chain in the US before being acquired by Canadian company Alimentation Couche-Tard. Now owned by Couche-Tard, Circle K’s parent company has recently submitted an unsolicited takeover bid for 7-Eleven’s parent company. This potential merger would create a combined entity with over 100,000 stores.
While this proposal from Couche-Tard is only an initial step and there is no guarantee that a deal will be reached between both parties, it marks an interesting development in Arizona’s convenience store scene. In response to this offer, 7-Eleven’s holding company has formed an independent board committee to review and consider their options moving forward.
