Carrefour Approached By Canadian Group Couche-Tard About Takeover

FRENCH retail giants Carrefour have been approached by the Canadian group Alimentation Couche-Tard about a possible takeover.

The Canadian distributor Alimentation Couche-Tard has announced that it has entered into preliminary discussions with Carrefour with a view to a possible acquisition of the French group.

The conditions of this possible operation are still being discussed, Alimentation Couche-Tard said in a statement, citing a potential friendly transition.

“Carrefour was approached, in a friendly approach, by the group Alimentation Couche-Tard for a merger project. Discussions are very preliminary,” Carrefour confirmed in a separate press release.

On Tuesday, January 12, Carrefour had a market capitalisation of 12.64 billion euros and Alimentation Couche-Tard, listed in Toronto, was valued at 37 billion dollars (30.3 billion euros).

Couche-Tard, which has more than 130,000 employees worldwide, made a noticeable entry into the Asian market in November by buying the Hong Kong group Convenience Retail Asia for nearly 360 million dollars. The price of a possible merger with Carrefour should amount to billions of dollars if the transaction were to take place.

The French group achieved a turnover of 80.7 billion euros in 2019 and posted a market capitalisation of 12.64 billion euros on the Paris Stock Exchange on Tuesday evening. Couche-Tard posted a profit of nearly 2.4 billion US dollars in its fiscal year shifted from 2019, on a turnover of 54 billion dollars. The group posted a capitalisation of 35 billion Canadian dollars (22.5 billion euros) on the Toronto Stock Exchange on Tuesday evening.

In the third quarter of 2020, Carrefour reported its best quarterly performance for at least twenty years, thanks to France, but also Spain and Brazil, which claims a network of 12,300 stores in more than thirty countries across the globe and employs over 320,000 people.

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