Alimentation Couche-Tard has the financial strength to do a US$10B to US$15B acquisition, and its top executive hopes that disruption in the global economy will pave the way for a sizable deal.
Canada’s Alimentation Couche-Tard Inc. has the financial strength to do a US$10 billion to US$15 billion acquisition, and its top executive hopes that disruption in the global economy will pave the way for a sizable deal.
Couche-Tard, which made an attempt to buy grocery chain Carrefour SA that was blocked by the French government in 2021, has been discussed as a potential bidder for part of Suncor Energy Inc.’s Petro-Canada chain of gas stations. Executives at the Laval, Quebec-based company told analysts Wednesday that the combination of high inflation, slowing growth and an uncertain direction for the economy may create large deal opportunities in the US and Europe.
Fuel revenue in the fiscal first quarter jumped 52 per cent over last year and margins expanded. The company earned US$872 million, or 85 cents a share, well above analysts’ expectations for 73 cents.
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