Alimentation Couche-Tard has acquired Żabka Group for $8.7 billion, a transaction that transfers ownership of Poland’s largest convenience store operator to the Canadian retail giant. The deal, which was finalized after regulatory approval, positions Couche-Tard to expand its European footprint through Żabka’s extensive network of over 12,000 franchise stores and autonomous Żabka Nano outlets.
Żabka Group, headquartered in Luxembourg and listed on the Warsaw Stock Exchange since October 2024, operates as a convenience ecosystem centered on its Polish retail chain. Beyond physical stores, the group manages digital services including Maczfit for meal delivery, Dietly for meal plan subscriptions, and eGrocery platforms Jush and delio. Its logistics backbone in Poland comprises eight distribution centers and 19 cross-docking hubs, alongside dedicated dark store and dark kitchen facilities supporting its online operations.
For Couche-Tard, which operates convenience stores across North America and Europe, the acquisition adds a high-density urban retail model with a strong technology layer. Żabka’s franchise-based structure and autonomous store formats offer a complementary approach to Couche-Tard’s traditional corporate-run locations. The purchase also brings Żabka’s recent expansion into Romania, where it operates over 200 Froo stores, giving Couche-Tard a new market entry point in Southeast Europe.
The combined entity will leverage Żabka’s digital platforms and logistics infrastructure to enhance Couche-Tard’s existing European operations. Couche-Tard has indicated it will retain Żabka’s management team and brand identity, focusing on integrating back-office functions while preserving the group’s local market expertise. The transaction is expected to close in the coming quarters, subject to standard closing conditions.
Post-deal, Żabka Group will operate as a subsidiary within Couche-Tard’s international portfolio, with its Warsaw listing expected to be maintained for the near term. The acquisition gives Couche-Tard a platform for further growth in Central and Eastern Europe, where convenience retail remains fragmented and underpenetrated compared to Western markets.