The chief executive of Alimentation Couche-Tard, the Canada-based convenience business that has taken over Topaz, has told Checkout that the company plans to gradually phase in its own Circle K brand here, which would see the end of Topaz' recently-launched Re.Store convenience concept.
“In September 2015, we announced our new global brand, Circle K,” Brian Hannasch told Checkout. “Our goal in the coming years is to have a single convenience retail brand across our worldwide network.
"The overall plan and timing for the rebranding of sites to Circle K will be decided together with the Topaz management team, once we have received approval from competition authorities and can begin the integration process."
Hannasch adds that the business is looking forward to establishing its operations here, given the favorable market conditions. "Market conditions like those in Ireland are very attractive for our business: a competitive economy, a level playing field across retail channels and a target with a solid management team," he said.
Couche-Tard's bid to take over Topaz is still subject to competition approval. Topaz launched its Re.Store concept in April 2015, following a €25 million investment.
Elsewhere, the Irish Petrol Retailers Association has said that retail fuel prices could drop even lower for Irish consumers, following a rise in oil stocks and US crude production.
David Blevings, spokesperson for the IPRA said that the "recent reductions in crude oil price will work its way into refined product prices and retail prices" in the coming weeks.
Blevings reiterated that retail margins on fuel are "very small with vigorous competition".
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