Alimentation Couche-Tard Inc., based in Laval, Quebec, has set its sights on acquiring Polish convenience store operator Zabka Group after previous unsuccessful takeover attempts. The company has made a bid exceeding $12 billion for a majority stake in Zabka, valuing each share at around $11.90 Canadian dollars.
If the deal goes through, it would mark Couche-Tard’s largest acquisition to date, allowing the company to expand its reach significantly. Zabka operates over 13,000 convenience stores in Poland and Romania, while Couche-Tard boasts 17,300 stores across 27 countries, with a small presence in Poland.
Both companies share similarities in their product offerings, with a focus on beverages, snacks, and hot food items. Zabka is known for its quick-serve meals, including some fully autonomous locations, while Couche-Tard emphasizes beverages and fuel, operating gas stations at about 13,200 stores.
Couche-Tard’s CEO, Alex Miller, emphasized the complementary strengths of the two companies and their shared commitment to customer service. The potential merger is expected to generate approximately $250 million in cost savings within three years of closing the deal.
The interest in Zabka has been long-standing, with Couche-Tard executives considering the company for over 15 years. Following failed attempts to acquire other companies, including a French grocer and a major convenience store chain, Couche-Tard turned its attention back to Zabka.
The transaction is supported by Zabka’s executive managers and major shareholders, including private equity firms CVC Capital Partners and Partners Group. Should regulatory approvals be obtained, the deal is anticipated to be finalized by December, with the possibility of Zabka being fully integrated into Couche-Tard or continuing to operate independently on the Polish stock exchange.
Analysts view the acquisition as a strategic move that aligns with Couche-Tard’s growth objectives, providing significant opportunities for expansion and synergy between the two companies.
