Alimentation Couche-Tard suspends Russian operations

Alimentation Couche-Tard Inc. says it is suspending its operations in Russia, effectively immediately.

Couche-Tard chief executive Brian Hannasch condemned Russia's aggression against Ukraine and the impact it is having for both Ukrainians and Russians.

The Quebec-based convenience store retailer says it is implementing plans to take care of its Russian employees in a responsible and safe manner as it winds down its operations.

Couche-Tard says it has operated under its primary brand Circle K in Russia. It has 38 stores located in St. Petersburg, Murmansk, and Pskov and more than 320 employees.

The move follows announcements last week by several other Canadian companies who have also suspended operations in Russia.

Canadian pension funds and investment firms have also announced they are divesting their holdings in Russian companies.