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January 18, 2021updated 04 Nov 2021 3:43pm

Couche-Tard drops €16.2bn plan to acquire Carrefour

Canada’s Alimentation Couche-Tard and European food retailer Carrefour have issued a joint statement on €16.2bn deal plan.

Canada’s Alimentation Couche-Tard and European food retailer Carrefour have issued a joint statement on €16.2bn deal plan.

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The plan to takeover Carrefour has been dropped and instead both the entities will explore cases for operational partnerships between them.

The news follows just days after Couche-Tard confirmed initiation of exploratory discussions with Carrefour.

It also submitted a non-binding offer letter for a combination at a price of €20 per Carrefour share. Couche-Tard also stated that the discussions may or may not result in any agreement or transaction.

Carrefour chairman and CEO Alexandre Bompard said: “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.”

Some areas that the companies will initially focus on include product distribution optimisation, best practices sharing covering fuel, innovation and enhancing customer experience, pooling purchasing volumes and private labels partnership and more.

Couche-Tard president and CEO Brian Hannasch said: “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.”

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.