The transaction has secured unanimous support from Żabka’s executive leadership and major shareholders, including CVC Capital Partners and Partners Group, who collectively control 57% of the company. These stakeholders have signed irrevocable agreements to tender their shares, providing a significant tailwind for the takeover. Couche-Tard intends to fund the purchase through committed debt facilities arranged by J.P. Morgan, alongside National Bank of Canada Capital Markets and The Bank of Nova Scotia.
Alimentation Couche-Tard to Acquire Poland’s Żabka Group
Alimentation Couche-Tard is launching a voluntary tender offer to acquire Poland’s largest convenience retailer, Żabka Group, in a deal valued at approximately 32.62 billion PLN, or 8.6 billion USD. This acquisition marks the largest in the Canadian retail giant’s history, signaling an aggressive push into the Central and Eastern European market.
Founded in 1998 and headquartered in Poznań, Żabka operates a network of over 13,000 compact stores across Poland and Romania. The retailer serves roughly 4.3 million customers daily, leveraging a digital-first ecosystem that includes loyalty programs and e-commerce platforms. For Couche-Tard, the move integrates a proven franchise model into its existing global operations, which already encompass nearly 400 Circle K service stations in Poland. The company anticipates achieving approximately 250 million USD in cost and revenue synergies by the third year post-closing, aiming to finalize the deal by December 2026.
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