Joint Annoucement Between Alimentation Couche-Tard and Carrefour
Preliminary discussions around a transaction, mindful of all stakeholders, had been initiated between Carrefour SA (« Carrefour ») (Paris:CA) and Alimentation Couche‑Tard Inc. (« Couche‑Tard ») (TSX: ATD.A) (TSX: ATD.B) following a friendly approach from the latter. In light of recent events, these are no longer continuing.
Carrefour and Couche-Tard, however, have decided to extend their discussions to examine opportunities for operational partnerships. Among the preliminary areas of cooperation to be explored are sharing best practices on fuel, pooling purchasing volumes, partnering on private labels, improving the customer journey through innovation, and evaluating ways of optimizing product distribution in the overlapping networks.
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Alexandre Bompard, Chairman and CEO, Carrefour: “Building innovative partnerships is a key part of Carrefour’s transformation strategy. The promising partnerships anticipated with North American leader Couche-Tard is fully aligned with this strategy, which has enabled us to return to a profitable growth path.”
Brian Hannasch, President and CEO, Couche-Tard: “The opportunity for operational partnerships with Carrefour will further our journey towards becoming a leading global retailer. The discussed areas for cooperation align with our five-year strategic plan, as well as our commitment to strengthening our core convenience and fuel business and pursuing opportunities in multiple, related growth platforms.”
About Alimentation Couche-Tard Inc.
Couche-Tard is the leader in the Canadian convenience store industry, with a market cap of approximately C$46 billion as at January 12, 2021. In the United States, it is the largest independent convenience store operator in terms of the number of company-operated stores. In Europe, Couche‑Tard is a leader in convenience store and road transportation fuel retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic countries (Estonia, Latvia and Lithuania), as well as in Ireland, and has an important presence in Poland.
As of October 11, 2020, Couche-Tard’s network comprised 9,261 convenience stores throughout North America, including 8,085 stores with road transportation fuel dispensing. Its North American network consists of 18 business units, including 14 in the United States covering 47 states and 4 in Canada covering all 10 provinces. Approximately 109,000 people are employed throughout its network and at its service offices in North America.
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