Alimentation Couche-Tard is expanding its empire of petrol station rest stops. On Thursday, the $44 billion Canadian gas station giant said it would buy some of TotalEnergies’ European assets for 3.1 billion euros. That means the business is being sold for around 8 times the EBITDA it generated in 2022, about the same multiple on which Couche-Tard trades. Hence the buyer is not paying over the odds.
European assets for 3.1 billion euros. That means the business is being sold for around 8 times the EBITDA it generated in 2022, about the same multiple on which Couche-Tard trades. Hence the buyer is not paying over the odds.
The swoop is also a sign that Couche-Tard is more confident in its own business model than in the recent past. In 2021, the Canadian group attempted to buy French grocer Carrefour
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