Circle K’s food pitch is Żabka’s kitchen, not a new U.S. store count
Miller said the Polish chain adds food, digital, and supply chain. The U.S. gallon line is still the profit.
Sept. 18, 2026 — Alex Miller said Couche-Tard wants Żabka because it “will strengthen our capabilities in food, digital engagement and supply chain” and complement organic growth while adding scale in Central and Eastern Europe. That is a capability sentence. It is not a U.S. door-count sentence.
The quarter he was reporting still made its fuel gross profit in the existing network: $1.8 billion, with the U.S. margin at 52.61 cents a gallon. The foodservice note in the expenses was incremental investment to accelerate the program. Żabka, at more than 13,000 franchised stores, is the model he is pointing at. It is not yet consolidated.
A travel-center or U.S. c-store kitchen does not become a Żabka store because the parent bid for one. The test, if the tender closes, is whether any of that food system shows up in a U.S. Circle K labor model. Until a filing says it did, this is a European convenience deal with a food reputation.
Source: Alimentation Couche-Tard quarterly release, Sept. 1, 2026.