Couche-Tard agrees to acquire Żabka Group in 32.62 billion zloty deal

M&A · Partnership
โดย Retail Insight Network·Read original
Summary · why it matters

Alimentation Couche-Tard has agreed to acquire Polish convenience retailer Żabka Group in a transaction with an equity value of 32.62 billion zlotys, or 8.74 billion dollars. The Canadian company will launch a voluntary tender offer through its subsidiary Circle K Polska at 32 zlotys per share in cash, with shareholders representing approximately 57 percent of Żabka's shares, including CVC Capital Partners and Partners Group, having signed hard irrevocable undertakings to tender their stakes. Couche-Tard described the deal as its largest acquisition to date and expects it to increase adjusted EBITDA margin immediately while raising earnings per share from year two onward, with identified cost and revenue synergies of about 250 million dollars. The transaction, which has unanimous support from Żabka's leadership team, is subject to regulatory approvals including merger control clearance and foreign direct investment review, with completion expected by December 2026 at the latest. If Couche-Tard obtains at least 95 percent of voting rights, it intends to squeeze out remaining shareholders and delist Żabka from the Warsaw Stock Exchange.

Impact on stocks 3

Financials▲ · 2 stocks
CVC Capital Partners PLC
CVC
▲ PositiveCapitalrelevance

CVC is a selling shareholder with hard irrevocable undertakings to tender its stake, receiving cash for its shares.

Partners Group Holding AG
PGHN
▲ PositiveCapitalrelevance

Partners Group is a selling shareholder with hard irrevocable undertakings to tender its stake, receiving cash for its shares.

Digital Finance & Tokenization▲ · 1 stocks

Off-coverage companies 1

Alimentation Couche-Tard IncPrivate▲ Positive
Capitalrelevance

Couche-Tard is the acquirer in its largest acquisition to date, expected to be accretive to EPS from year two and increase EBITDA margin.

© 2026 MarketDXNews