Alsulaiman Group gets franchise rights for Circle K in Saudi Arabia
The investment will support the growth of the Circle K brand in the Saudi Kingdom.
Alsulaiman Group has acquired the exclusive franchise rights for Circle K convenience stores in Saudi Arabia. The investment will support the growth of the Circle K brand in the Kingdom.
With Circle K as its global brand, Couche-Tard’s network today consists of more than 14,300 locations across 24 countries and territories, including approximately 1,900 franchise locations in Latin America, Africa, the Middle East, Asia and Oceania.
ASG manages an ecosystem of businesses across three different sectors, including omni-channel retail, logistic services and retail real estate. These businesses include IKEA Saudi Arabia and Bahrain, Flow Progressive Logistics, Ehteraf Real Estate Development, a joint venture with Livspace, along with strategic investments in e-commerce fulfillment service Salasa, and Cartlow, a reverse logistics and recommerce platform.
“Under Vision 2030, Saudi Arabia is experiencing accelerated population growth and internal migration toward concentrated metropolitan areas. Therefore, there is a growing opportunity for quality convenience stores to operate in areas with high traffic, such as office towers, gas stations, airports and train stations,” said Saud Alsulaiman, CEO of ASG.
In addition to increasing its presence in metropolitan centres, ASG plans to pilot a sub-franchising model to enable entrepreneurs to take advantage of the Circle K platform to launch their businesses and expand the brand’s services to the wider population across the Kingdom.
