Couche-Tard & Canopy Growth Reach Multi-Year Deal for Cannabis Store
LAVAL, Quebec and SMITHS FALLS, ONTARIO — Alimentation Couche-Tard Inc. entered into a multi-year agreement with Canopy Growth Corp. for a cannabis store.
The trademark license agreement is with an Alcohol and Gaming Commission of Ontario (AGCO) Expression of Interest Application Lottery winner, who will operate a Tweed branded retail store in London, Ontario. The lottery winner will have full ownership and control over the location.
The newly formed strategic partnership will undergo a public-consultation process for approval.
"Alimentation Couche-Tard is excited about taking a leadership role in the development of cannabis retailing excellence in this major Canadian market. We believe the Ontario cannabis store and private retailers will co-exist under a tightly regulated framework with common goals to protect public health and safety," said Brian Hannasch, president and CEO of Couche-Tard.
Canopy Growth's Tweed brand, with brick-and-mortar locations currently in Saskatchewan, Manitoba, Newfoundland and Labrador, is widely known across Canada as a trusted cannabis source with a deep understanding of how to best educate consumers on their unique cannabis needs.
Located at 1025 Wellington Road in London, the licensed Tweed store is expected to open in April and will carry softgels, oils and dried flower products along with a selection of accessories that will allow customers to choose their own preferred way to consume cannabis.
"We are proud to be working with a leading global company like Alimentation Couche-Tard to advise and assist in bringing a trusted cannabis brand to the people of London, Ontario. Our brand is synonymous with having informed staff who can help consumers find the right option for them, whether they are a new or an experienced consumer," said Mark Zekulin, president and co-CEO of Canopy Growth.
Through this partnership, Couche-Tard is aiming to lean on Canopy Growth's cannabis expertise and leverage its experience with other age-restricted products to focus on the safe, responsible and lawful sale of cannabis, consistent with the legislation enacted by the federal and provincial governments. As two Canadian-made and globally positioned companies, the London location will serve as an important entry to market that could lead to future international opportunities, according to Couche-Tard.
As of Oct. 14,, Laval-based Alimentation Couche-Tard's network comprised 9,943 convenience stores throughout North America, including 8,660 stores with road transportation fuel dispensing. Its North American network consists of 19 business units, including 15 in the United States covering 48 states and four in Canada covering all 10 provinces.
In addition, through CrossAmerica Partners LP, Alimentation Couche-Tard supplies road transportation fuel under various brands to approximately 1,300 locations in the United States.
In Europe, Alimentation Couche-Tard operates a broad retail network across Scandinavia, Ireland, Poland, the Baltics and Russia through 10 business units. As of Oct. 14, its network comprised 2,718 stores, the majority of which offer road transportation fuel and convenience products while the others are unmanned automated fuel stations which only offer road transportation fuel.