Canada's Alimentation Couche-Tard plans to acquire Poland's largest convenience retailer Zabka for about $8.7 billion, marking the largest-ever acquisition for the owner of Circle K.

The deal comes after Couche-Tard abandoned a $47 billion takeover attempt of Japan's Seven & i Holdings, owner of 7-Eleven, last July. Its subsidiary Circle K Polska will launch a tender offer for all Zabka shares at 32 Polish zlotys each, valuing total equity at roughly 32.62 billion zlotys ($8.73 billion).

Zabka shares closed at 29.26 zlotys on the Warsaw Stock Exchange. Couche-Tard expects to commence the offer around late August and complete the transaction by December, expanding its footprint in central and eastern Europe.