Preliminary discussions around a transaction, mindful of all stakeholders, had been initiated between Carrefour SA and Alimentation Couche-Tard Inc. following a friendly approach from the latter. In light of recent events, these are no longer continuing.
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On 12th January, Alimentation Couche-Tard Inc., the owner of the convenient store Circle K, confirmed that it has submitted a binding offer letter to Carrefour SA for a friendly combination at a price of US$24.15 per Carrefour share.
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.
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.”
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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.”