The company’s Polish subsidiary, Circle K Poland, has tendered its offer to buy shares of its rival for 32 zloty, or about $12, in line with the expected deal size and timing announced at the end of July. (The Logic)

Talking point: For the second year in a row, the Quebec convenience store chain is trying to execute one of the world’s biggest retail combinations, after it tried and failed to buy 7-Eleven in 2024 and 2025. While the deal in Poland is much smaller than the US$47-billion 7-Eleven offer, it reflects how the Quebec company is taking advantage of a wave of consolidation in the convenience store industry, where companies must carve out thin margins by improving their buying power and supply chains. The Zabka voluntary tender offer will be open for at least 30 days, at which point Couche-Tard hopes to control 100 per cent of Zabka shares and delist it from the Warsaw exchange. It’s the largest-ever buyout of a Warsaw-listed company and the second–biggest retail deal of the year, according to Bloomberg. Zabka shares rose more than 0.5 per cent to 31.5 zloty on Wednesday while Couche-Tard shares fell nearly one per cent on the Toronto Stock Exchange on Wednesday afternoon.

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