Couche-Tard to Acquire Poland’s Largest Convenience Retailer
The transaction includes 13,000 convenience stores and is equivalent to $8.6 billion US.
Jul 31, 2026 | 2 min read
Alimentation Couche-Tard Inc. (ACT) announced that it plans to acquire all the issued and outstanding shares of Żabka Group, Poland's largest convenience retailer, according to a press release sent to NACS.
Couche-Tard said it will initiate a voluntary tender offer through its wholly owned subsidiary, Circle K Polska sp. z.o.o. ("Circle K Polska"), at a price of PLN 32.00 (equivalent of US $8.48) per share, representing a total equity value of approximately PLN 32.62 billion (equivalent of US $8.6 billion).
The retailer said, assuming completion of the transaction, it would represent Couche-Tard’s largest acquisition to date and advance its Core + More strategy by adding a differentiated platform to support long-term growth, innovation and value creation.
"This is a transformational investment for Couche-Tard and an important milestone in our growth journey," said Alex Miller, president and CEO of Alimentation Couche-Tard. "Żabka has built one of Europe's most impressive convenience retail businesses, combining a powerful customer proposition with an entrepreneurial franchise model, a highly disciplined and proven operating platform and a strong track record of growth. We have tremendous respect for what the Żabka team and its franchisees have accomplished.
Founded in 1998, based in Poznań, Poland, Żabka Group operates more than 13,000 convenience stores across Poland and Romania and services approximately 4.3 million average daily transactions. Its network is built around compact, modular neighborhood stores averaging approximately 65 square meters (~700 square feet). It also has an integrated and increasingly diversified ecosystem with approximately 11.7 million users across its digital channels.
For Couche-Tard, the acquisition will add an immediate, scaled platform in Central and Eastern Europe, preserving Żabka's management structure, brand, entrepreneurial franchise model and expertise. In Poland, it will complement the company’s existing network of nearly 400 Circle K service stations offering fuel as well as food & beverages and other convenience items.
