Alimentation Couche-Tard Inc. could be on the verge of dominating the world's convenience store market after it offered to buy one of the sector's biggest players. Japan's Seven & i Holdings Co. Ltd.
Alimentation Couche-Tard Inc. could be on the verge of dominating the world's convenience store market after it offered to buy one of the sector's biggest players.
Couche-Tard did not disclose terms of the proposal presented to Seven & i but described the offer as"friendly, non-binding" and said it is focused on"reaching a mutually agreeable transaction that benefits both companies' customers, employees, franchisees and shareholders." Couche-Tard's empire already covers 31 countries and more than 16,700 stores, but Seven & i's website says it operates about 85,800 stores, has about 157,177 employees and counts 63.6 million customers visits per day.
And even if an agreement is reached, a deal isn't certain because of the regulatory approvals the parties will need to snag, Saunders pointed out. Couche-Tard has faced such concerns before. Three years ago, when it was trying to buy French grocer Carrefour SA, Couche-Tard abandoned takeover talks when French finance minister Bruno Le Maire said he wouldn't let a potential $25-billion deal proceed because it would put food security at stake.The Seven & i deal would be even bigger, turning Couche-Tard into a"dominant force" and"improving its economies of scale.
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