The acquisition marks the largest in Couche-Tard’s history, expanding its European footprint with Żabka’s $7.4bn revenue.
Alimentation Couche-Tard will acquire Polish convenience retailer Żabka Group for $8.74bn, its largest deal to date. The transaction values Żabka at 32.62bn zlotys, with shareholders receiving 32 zlotys per share in cash.
Żabka reported $7.4bn in revenue, $1.1bn in adjusted EBITDA, and $0.3bn in net profit for the year ending March 2026. The combined entity would have pro forma revenue of $83.9bn and adjusted EBITDA of $7.8bn.
Major shareholders, including CVC Capital Partners, have agreed to tender their stakes. Żabka’s leadership will reinvest proceeds into Couche-Tard equity, signaling confidence in the merger.