Regulatory News:
Preliminary discussions around a transaction, mindful of all
stakeholders, had been initiated between Carrefour SA (« Carrefour
») (Paris:CA) and Alimentation Couche‑Tard Inc. (« Couche‑Tard »)
(TSX: ATD.A) (TSX: ATD.B) following a friendly approach from the
latter. In light of recent events, these are no longer
continuing.
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.”
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.”
About Alimentation Couche-Tard Inc.
Couche-Tard is the leader in the Canadian convenience store
industry, with a market cap of approximately C$46 billion as at
January 12, 2021. In the United States, it is the largest
independent convenience store operator in terms of the number of
company-operated stores. In Europe, Couche‑Tard is a leader in
convenience store and road transportation fuel retail in the
Scandinavian countries (Norway, Sweden and Denmark), in the Baltic
countries (Estonia, Latvia and Lithuania), as well as in Ireland,
and has an important presence in Poland.
As of October 11, 2020, Couche-Tard’s network comprised 9,261
convenience stores throughout North America, including 8,085 stores
with road transportation fuel dispensing. Its North American
network consists of 18 business units, including 14 in the United
States covering 47 states and 4 in Canada covering all 10
provinces. Approximately 109,000 people are employed throughout its
network and at its service offices in North America.
In Europe, Couche-Tard operates a broad retail network across
Scandinavia, Ireland, Poland, the Baltics and Russia through 10
business units. As of October 11, 2020, Couche-Tard’s network
comprised 2,722 stores, the majority of which offer road
transportation fuel and convenience products while the others are
unmanned automated fuel stations which only offer road
transportation fuel. Couche-Tard also offers other products,
including aviation fuel and energy for stationary engines.
Including employees at branded franchise stores, approximately
22,000 people work in its retail network, terminals and service
offices across Europe.
In addition, under licensing agreements, more than 2,220 stores
were operated under the Circle K banner in 15 other countries and
territories (Cambodia, Egypt, Guam, Guatemala, Honduras, Hong Kong,
Indonesia, Jamaica, Macau, Mexico, Mongolia, New Zealand, Saudi
Arabia, the United Arab Emirates and Vietnam), which brings the
worldwide total network to more than 14,200 stores.
For more information on Alimentation Couche-Tard Inc. or to
consult its quarterly Consolidated Financial Statements and
Management Discussion and Analysis, please visit: https://corpo.couche‑tard.com.
About Carrefour Group
With a multi-format network of some 12,300 stores in more than
30 countries, the Carrefour Group is one of the world's leading
food retailers. Carrefour recorded gross sales of €80.7 billion in
2019. It has more than 320,000 employees who help to make Carrefour
the world leader in the food transition for everyone, providing
everybody with access to high-quality, affordable food every day,
in all locations.
For more information, visit www.carrefour.com, or find us on
Twitter (@GroupeCarrefour) and LinkedIn (Carrefour).
Forward-Looking Statements
The statements set forth in this press release, which describes
Couche-Tard’s objectives, projections, estimates, expectations or
forecasts, may constitute forward looking statements within the
meaning of securities legislation. Positive or negative verbs such
as "believe”, “can”, “shall”, “intend”, “expect”, "estimate”,
“assume” and other related expressions are used to identify such
statements. Couche-Tard would like to point out that, by their very
nature, forward-looking statements involve risks and uncertainties
such that its results, or the measures it adopts, could differ
materially from those indicated in or underlying these statements,
or could have an impact on the degree of realization of a
particular projection. Major factors that may lead to a material
difference between Couche Tard’s actual results and the projections
or expectations set forth in the forward-looking statements include
the effects of the integration of acquired businesses and the
ability to achieve projected synergies, uncertainty related to the
duration and severity of the current COVID-19 pandemic,
fluctuations in margins on motor fuel sales, competition in the
convenience store and retail motor fuel industries, exchange rate
variations, and such other risks as described in detail from time
to time in the reports filed by Couche-Tard with securities
regulatory authorities in Canada. Unless otherwise required by
applicable securities laws, Couche-Tard disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The forward-looking information in this release is based on
information available as of the date of the release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210116005021/en/
Alimentation Couche-Tard Inc. Media Relations in North
America Lisa Koenig Head of Global Communications Tel: (450)
662-6632, ext. 6611 communication@couche-tard.com Investor
Relations Jean Marc Ayas Manager, Investor Relations Tel: (450)
662-6632, ext. 4619 investor.relations@couche-tard.com Carrefour
Group Media Relations in Europe Group Communication Tél
: +33 (0) 1 58 47 88 80 Investor Relations: Selma Bekhechi, Antoine
Parison and Anthony Guglielmo Tél : +33 (0) 1 64 50 82 57
Carrefour (EU:CA)
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