Alimentation Couche-Tard bids $7.5–$8 billion for Cumberland Farms

Alimentation Couche-Tard, the Canadian owner of Circle K, has made a takeover offer for Cumberland Farms valued between $7.5 billion and $8 billion. The bid comes as Cumberland Farms, formerly known as EG Group, has delayed its planned initial public offering (IPO) on the Nasdaq.

The proposed offer is lower than the $9 billion valuation Cumberland Farms had previously sought for its US listing. The company operates approximately 3,200 sites, including 1,535 in the United States and 1,778 in Germany and the Benelux region.

Cumberland Farms is currently co-owned by TDR Capital and brothers Mohsin and Zuber Issa. While the company has focused on core geographies in the US and Europe, it has recently divested assets in France, Australia, Italy, and the UK to reduce debt.