Couche-Tard to Pursue Other Deals After Carrefour Failure

Canadian c-store chain still interested in supermarkets
Chairman defends ‘bold approach,’ citing M&A track record

Carrefour SA Hypermarket as Couche-Tard Said to Plan $3.6 Billion Investment — Photographer: Jeremy Suyker/Bloomberg

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By Sandrine Rastello and Michael Bellusci

January 17, 2021 at 11:05 PM UTC

Updated on

January 18, 2021 at 3:17 PM UTC

This article is for subscribers only.

Executives at Alimentation Couche-Tard Inc. defended a failed bid for Carrefour SA and said they would still like to buy the French grocer some day, but will turn their focus to other potential deals.

The Canadian convenience store operator made a $20 billion offer that was shot down by French Finance Minister Bruno Le Maire on Friday. The bid caught investors off guard because Couche-Tard does not operate supermarkets.