Alimentation Couche-Tard Inc., based in Laval, Quebec, has set its sights on acquiring Zabka Group, a major convenience store operator in Poland. The proposed deal involves a bid exceeding $12 billion for a controlling interest in Zabka, valuing each share at around $11.90 Canadian dollars. This potential acquisition would mark Couche-Tard’s largest purchase to date, aligning with its strategic goal of expanding its global reach significantly.
Zabka, named after the Polish word for frog, operates over 13,000 convenience stores in Poland and Romania, while Couche-Tard boasts a presence in 27 countries with 17,300 stores, including nearly 400 in Poland. Both companies offer a wide selection of beverages, snacks, and hot food items, with Zabka focusing on quick-serve meals and some fully autonomous locations, while Couche-Tard emphasizes beverages and fuel, operating over 13,200 stores with gas stations.
During discussions about the proposed transaction, Couche-Tard’s CEO, Alex Miller, emphasized the synergies and shared customer-centric approach of the two companies. The deal is expected to generate approximately $250 million US in cost savings within three years of completion. The idea of acquiring Zabka had been on Couche-Tard’s radar for over a decade, with founder Alain Bouchard suggesting a renewed interest in the company, leading to the formal offer.
The transaction is subject to regulatory approvals and is anticipated to finalize by December. The extent of Couche-Tard’s ownership in Zabka will rely on shareholder acceptance of the offer, with the possibility of full integration or Zabka continuing to operate as a public entity on the Polish stock exchange. Analysts view the acquisition plan as a strategic move that aligns with Couche-Tard’s growth objectives, offering potential benefits and synergies for both companies.