Public Company Consumer

Alimentation Couche-Tard

Laval, Quebec, Canada

Alimentation Couche-Tard is a global convenience-store and fuel retail operator (TSX: ATD.A / ATD.B), running large networks under the Couche-Tard and Circle K banners across multiple countries and also offering related energy and in-store products.

Focus Areas
Convenience stores, Fuel retail, Loyalty / customer rewards

Tracked deals

4

4 tracked deals across 2022-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Buyout

3 buyout · 1 divestiture

Alimentation Couche-Tard Acquisition Volume by Year

Last 4 years

Acquisition volume by year Annual acquisition counts for the last 4 years for Alimentation Couche-Tard. 1 2022 1 2023 1 2025 ~1 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Alimentation Couche-Tard Inc., Circle K Polska sp. z o.o.
    Target
    Żabka Group
    Seller
    CVC Capital Partners, Partners Group, Żabka key executive managers
    Industry
    Retail
    Location
    Poland
    Type
    Buyout

    Alimentation Couche-Tard will launch a voluntary cash tender offer through its wholly owned subsidiary Circle K Polska to acquire all issued and outstanding shares of Żabka Group. The deal is valued at about PLN 32.62 billion (US$8.6 billion) at PLN 32.00 per share, and is expected to close no later than December 2026 subject to regulatory approvals and tender participation (including a potential squeeze-out if Couche-Tard reaches at least 95% of voting rights).

  • Buyer
    Alimentation Couche-Tard Inc., Majors Management, LLC
    Target
    GetGo Cafe + Market
    Seller
    Giant Eagle, Inc., Alimentation Couche-Tard Inc.
    Industry
    Retail
    Type
    Buyout

    Alimentation Couche-Tard completed the $1.57 billion acquisition of Giant Eagle’s GetGo Cafe + Market business, including about 270 GetGo and WetGo locations, effective June 29, 2025. The deal preserves the myPerks loyalty partnership between GetGo and Giant Eagle, and the FTC required Couche-Tard to divest 35 gas stations (to be acquired by Majors Management) to address antitrust concerns.

  • Buyer
    Alimentation Couche-Tard Inc. (Circle K)
    Target
    Big Red Stores
    Seller
    Big Red Stores, Doug Hendrix, David Hendrix
    Industry
    Retail

    Alimentation Couche‑Tard Inc. (Circle K) entered into a definitive agreement to acquire 45 fuel and convenience retail sites from Arkansas‑based Big Red Stores, a chain founded in 1997 by Doug and David Hendrix. The deal (expected to close in H1 2023, subject to approvals) significantly expands Couche‑Tard’s Arkansas footprint and will be financed with available cash and/or existing credit facilities.

  • Buyer
    Alimentation Couche-Tard Inc.
    Target
    True Blue Car Wash LLC
    Industry
    Automotive
    Type
    Buyout

    Alimentation Couche-Tard Inc. has entered into a definitive agreement to acquire all membership interests of True Blue Car Wash LLC, an operator of express tunnel car washes under the Clean Freak and Rainstorm brands. True Blue operates 65 locations across Arizona, Texas, Illinois and Indiana, with ~170,000 subscription members and strong proximity (85% within three miles) to Circle K locations, enabling cross-promotional opportunities.

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