Alimentation Couche-Tard, the Canadian convenience and mobility retailer, has announced an agreement to acquire a controlling stake in Zabka Group, Poland’s largest convenience retailer.
Through its wholly owned subsidiary Circle K Polska, Couche-Tard will initiate a voluntary tender offer at 32.00 PLN ($8.48) per share, valuing Zabka’s total equity at approximately 32.62 billion PLN ($8.6 billion). Key executive managers and major shareholders, including CVC Capital Partners and Partners Group – who together hold roughly 57% of Zabka’s shares – have entered into hard irrevocable agreements to tender their shares.
Founded in 1998, Zabka operates more than 13,000 convenience stores across Poland and Romania. In the trailing 12 months ended 31st March 2026, the retail platform generated approximately $7.4 billion in revenue and $1.1 billion in adjusted EBITDA.
Alex Miller, president and chief executive officer of Alimentation Couche-Tard, stated: “This is a transformational investment for Couche-Tard and an important milestone in our growth journey […] Together, we will be well positioned to create lasting value for customers, franchisees, employees, business partners, and shareholders”.
Assuming completion of the deal, the transaction would represent the largest acquisition in Couche-Tard’s history.
Source: Alimentation Couche-Tard (via PR Newswire)
