Canada's Alimentation Couche-Tard (owner of the Circle K chain) is interested in acquiring the retail chain of the Carrefour Group.

Canadian giant in play

According to DPA and Lebensmittel Zeitung, talks between Circle K and the Carrefour Group are still at a very early stage. Both sides have confirmed reports that they are holding talks about a deal. It could be worth as much as several billion euros. For now, however, it is not known whether the agreement will be finalised. Carrefour is valued on the French stock exchange at slightly under €13 billion. Couche-Tard, meanwhile, was valued on the Toronto stock exchange at around CAD 46 billion.

Who is Circle K?

Alimentation Couche-Tard focuses primarily on petrol stations and convenience stores. In Europe, the company has been present since 2012 as the owner of the Circle K stations, which it took over from Statoil a few years ago. The company owns 15,000 stores, including in Canada, the United States, Ireland, Denmark and Poland. In Poland, the Canadian company owns the Circle K petrol station chain.

Carrefour takeover: who is Circle K?

Carrefour Group takeover: who is Circle K?

Carrefour is a French joint-stock company that owns a chain of hypermarkets and supermarkets. The first supermarket belonged to the families of Marcel Fournier and Louis Defforey. It opened in Annecy, France, in 1960. The store was built at the intersection of 5 streets. This is where the name Carrefour comes from, which means "crossroads" in French. In Poland, the Carrefour store chain has more than 900 stores in various formats. These include hypermarkets, supermarkets and neighbourhood stores.

The Carrefour Group operates its stores in 34 countries across 4 continents, including Belgium, Spain, Italy, Portugal and Poland.

Summary

Canadian conglomerate Alimentation Couche-Tard, owner of the Circle K chain, has confirmed talks on taking over the Carrefour Group. The transaction could be worth several billion euros, and the French chain is currently valued on the stock exchange at slightly under €13 billion. The talks are at an early stage and it is not known whether the agreement will be finalised.

Carrefour, operating in 34 countries, has more than 900 stores in Poland. The Canadian company is present in the country through Circle K stations. A possible takeover would mean a merger of two powerful retail players on the European market.