Couche-Tard makes $12 billion bid for Polish convenience chain Zabka

Alimentation CoucheTard, the Quebecbased owner of Circle K and CoucheTard stores, has предложено a takeover bid worth more than $12 billion for Polish convenience retailer Zabka Group. The voluntary tender offer values Zabka at 32 Polish zloty, or about C$11.90, per share. If completed, it would be CoucheTard’s largest acquisition to date and would expand the company’s presence in Europe. Zabka operates more than 13,000 stores in Poland and Romania, while CoucheTard has about 17,300 locations in 27 countries. The companies share a similar conveniencestore model, though Zabka is more focused on prepared food and CoucheTard on fuel and beverages. The deal still needs regulatory approval and is expected to close by December if it goes ahead. CoucheTard says it expects about US$250 million in cost savings within three years of closing, while analysts note that the transaction still faces regulatory and timing uncertainties.