Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Carrefour shares leap on Couche-Tard $19.7 billion takeover talks

Click on the flag for more information about France FRANCE
Thursday, January 14, 2021, 04:00 (GMT + 9)

PARIS (Reuters) - European retail giant Carrefour has received a surprise 16.2 billion euros ($19.72 billion) takeover approach from Canadian convenience-store operator Alimentation Couche-Tard, sending its shares soaring on Wednesday.

Couche-Tard said it had submitted a non-binding offer for the French grocery group at 20 euros per share, largely in cash, though it gave no further detail on its vision for the combined companies.

Facing growing competition from online rivals such as Amazon, European supermarket operators are viewed as ripe for tie-ups, though Couche-Tard’s approach raised analyst questions over the the potential for cost cuts or purchasing savings.

Couche-Tard, which is mainly focused on gas stations in North America, would be entering virgin territory. Carrefour, continental Europe’s biggest retailer, has operations across Europe and Brazil, including out-of-town hypermarkets.

“Given the nature and location of ATD’s businesses, we see little scope for synergies,” Citi analysts said, adding that fierce competition makes France a particularly tough market.

It was not immediately clear whether Couche-Tard might seek to cherry-pick from Carrefour’s operations.

Couche-Tard has mainly made smaller acquisitions in the past, though it was reported to be a potential suitor for Marathon Petroleum Corp’s Speedway gas stations last year before another buyer sealed a $21 billion deal.

There is no certainty at this stage that the discussions with Carrefour will result in any agreement or transaction, Couche-Tard said.

Shares in Carrefour soared 15.3% to 17.83 euros by 1504 GMT while Couche-Tard dropped about 9% to C$37.54.

Carrefour employs more than 320,000 people worldwide, including 105,000 in France, its largest market. It is also France’s largest private sector employer. The French Presidency declined to comment on the Canadian group’s approach.

The company launched a five-year overhaul plan in 2018 to cut costs and boost e-commerce investment to contend with online competitors as well as domestic rivals such as Leclerc. It has also expanded into convenience stores to reduce reliance on the big hypermarkets that still account for the bulk of its sales.

“If the potential transaction was for Carrefour’s convenience stores segment only, we could better understand the strategic rationale,” Raymond James analysts said of Couche-Tard’s approach.

Click to enlarge (Image: Bloomberg)

With food retailers across the world benefiting from surging demand as more consumers stay home during the COVID-19 pandemic, Carrefour reported robust third-quarter results in France as well as other key markets Brazil and Spain.

Chief Executive Alexandre Bompard has repeatedly said the retail sector was bound to consolidate and that his mission was to ensure Carrrefour emerges as a winner.

In 2018 Carrefour and French rival Casino were locked in a dispute after Casino said it had rejected a tie-up approach that Carrefour denied making.

Carrefour also struck a purchasing alliance with Britain’s Tesco that year and retreated from the highly competitive Chinese market, where it sold loss-making operations to electronics retailer Suning.com.

($1 = 0.8216 euros)

Author: Dominique Vidalon /Reuters

editorial@seafood.media
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
United Kingdom
Jul 15, 00:10 (GMT + 9):
Nominations Open for Prestigious MSC And ASC Sustainable Seafood Awards 2025
Japan
Jul 15, 00:10 (GMT + 9):
Mitsubishi Leads Global Tuna Market Towards Sustainability with Stricter Sourcing Rules
Viet Nam
Jul 15, 00:10 (GMT + 9):
Global Tuna Market Set for Transformation in 2025: Sustainability, Transparency Drive New Era
Brazil
Jul 15, 00:10 (GMT + 9):
Trump's 50% Tariff Halts Brazilian Fish Exports, Sparks
Ghana
Jul 14, 05:00 (GMT + 9):
Ghana's Agrimercarb Revolutionizes Aquaculture with Sustainable Insect Protein
Peru
Jul 14, 00:10 (GMT + 9):
(Peru's Giant Squid Dilemma: Balancing Conservation and Artisanal Fishing Traditions
Norway
Jul 14, 00:10 (GMT + 9):
Where Biology Meets Technology: Skretting and Andfjord Salmon Redefine Sustainable Aquaculture
Spain
Jul 14, 00:10 (GMT + 9):
Spanish Fishing Sector Urges Commissioner Kadis: 'We Need Concrete, Short-Term Actions'
France
Jul 14, 00:10 (GMT + 9):
'The Great Trawl Case': BLOOM Sues French State to End Marine Destruction
Belgium
Jul 14, 00:10 (GMT + 9):
Multus and Fishway Partner to Scale Cultivated Fish Production, Addressing Global Seafood Shortfall
Worldwide
Jul 14, 00:10 (GMT + 9):
'Red Tuna' in the Grey Zone: Carbon Monoxide-Treated tuna Sparks Global Concern
Spain
Jul 14, 00:00 (GMT + 9):
Other Media | Faro de Vigo: €10,000 fine and 3 months' license suspension for the poacher of 800 kilos of octopus
India
Jul 14, 00:00 (GMT + 9):
Other Media | The Fish Site: A bid to revitalise RAS performance in India
United States
Jul 14, 00:00 (GMT + 9):
Other Media | SalmonBusiness: Mowi expands US retail reach with launch in Hispanic-focused Sedano’s chain
Canada
Jul 14, 00:00 (GMT + 9):
Other Media | Fish Farmer: Canadian seafood facing new US tariff threat



Lenguaje
FEATURED EVENTS
  
TOP STORIES
IMARPE Debunks Single Jumbo Squid Population Theory in the South Pacific
Peru Peru's Marine Institute (IMARPE) has refuted recent statements suggesting a single jumbo squid population unit in the South Pacific, asserting that no conclusive scientific evidence supports this clai...
ASMI: 2025 Weekly Alaska Salmon Harvest Update #4
United States Alaska's Salmon Harvest Surges, Led by Robust Bristol Bay Sockeye Run Alaska's 2025 commercial salmon season is significantly outpacing last year, with nearly 30 million fish caught so far. This stro...
Argentina's Fisheries Exports until May 2025: Squid Drives Growth, Shrimp Suffers Drastic Fall
Argentina Latest INDEC statistics reveal an 11% year-on-year increase in Argentina's overall fisheries production in May 2025. This growth is primarily due to a "colossal" rise in mollusks (squid), st...
Victory Farms Pioneers Sustainable Tilapia Farming in Africa, Joins ASC Improver Programme
Kenya Kenya's Victory Farms has become the first tilapia farm in Africa to join the Aquaculture Stewardship Council (ASC) Improver Programme, marking a significant stride towards responsible seafood product...
 

Umios Corporation | Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Aquaculture Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2025 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER