Dive Brief:
- Alimentation Couche-Tard is expected to begin selling a new line of THC beverages at its Circle K convenience stores during Q4, the company announced this week.
- The rollout features cannabis brand Viola’s new THC-infused craft soda, Iverson, produced in partnership with wellness company Horticulture and former NBA star Allen Iverson. Couche-Tard expects to pilot the beverage at stores in the Carolinas and Florida before expanding in 2026 to states that allow for the sale of THC products. Each 16-ounce can contains 10 milligrams of THC.
- Couch-Tard has tried to tap into the cannabis industry over the years but has failed to fully break through. Its latest partnership, if successful, could change that.
Dive Insight:
Couche-Tard’s interest in the U.S. cannabis space dates back to 2022 when the c-store retailer partnered with marijuana company Green Thumb Industries to co-locate 10 Rise Express dispensaries adjacent to Circle K convenience stores in Florida. However, Florida regulators eventually nixed the deal, saying it didn’t comply with state law. Green Thumb was appealing this ruling as of earlier this year.
In Canada, Couche-Tard tried co-locating Fire & Flower-owned cannabis stores alongside its c-stores, but Fire & Flower eventually filed for bankruptcy.
Although Couche-Tard recently began selling various THC beverages at some Circle K stores in Florida and Georgia, according to NACS, it’s now aiming for a national rollout with the new Iverson beverages. Couche-Tard aims to “be at the forefront of responsible adult beverage retail in legal markets," with its latest launch, Rebekah Stevenson, Circle K's head of packaged beverage, said in the announcement.
“We're committed to offering customers new, regulated alternatives in a trusted environment, while leading the way in the evolving beverage space — responsibly,” Stevenson said.
Couche-Tard appears to be tapping into THC-infused beverages at a good time. According to Brightfield Group’s Autumn 2024 forecast, the U.S. hemp-derived psychoactive cannabinoid market is projected to reach $3.8 billion in 2025 — up from about $200 million in 2020.
Consumers are increasingly purchasing these products at convenience stores compared to other businesses. As of Q1 2025, about 29% of consumers said they purchase these drinks from a c-store or gas station — a roughly 2.5 percentage point jump from Q1 2024 — outpacing hemp retailers, online retailers, liquor stores, restaurants, beer shops and other establishments.
