Couche-Tard makes up to $8 billion bid for Cumberland Farms

Anabelle Colaco
27 Oct 2026, 15:03 GMT+10

Canada's Alimentation Couche-Tard has proposed paying between US$7.5 billion and $8 billion for convenience-store operator Cumberland Farms, potentially offering the company an alternative to its planned U.S. stock market listing
The proposed price would fall short of the $9 billion valuation Cumberland Farms had targeted for its planned initial public offering, the report said
The company has delayed its planned IPO after attracting takeover interest, including from infrastructure investor Stonepeak

LONDON, UK: Canada's Alimentation Couche-Tard has proposed paying between US$7.5 billion and $8 billion for convenience-store operator Cumberland Farms, potentially offering the company an alternative to its planned U.S. stock market listing, The Times reported.

The proposed price would fall short of the $9 billion valuation Cumberland Farms had targeted for its planned initial public offering, the report said.

Cumberland Farms remains committed to pursuing a U.S. listing, The Times said, citing people close to the company.

The company has delayed its planned IPO after attracting takeover interest, including from infrastructure investor Stonepeak, the report said.

The Financial Times reported earlier this month that a flotation was unlikely before 2027, citing people familiar with the matter, although Cumberland Farms has not publicly provided a timeline.

Private equity firm TDR Capital owns 50 percent of Cumberland Farms, while the Issa brothers, British billionaire entrepreneurs, each hold a 25 percent stake, according to The Times.

Cumberland Farms operates more than 3,200 convenience stores and fuel stations across the United States and Europe.

Couche-Tard and Cumberland Farms did not immediately respond to requests for comment.