The Japanese operator of the world's largest convenience store chain, 7-Eleven, is considering a takeover bid from Alimentation Couche-Tard.
As Liga.net writes , the Japanese operator of the world's largest chain of minimarkets 7-Eleven has received an offer to take over its Canadian competitor, the retailer Alimentation Couche-Tard. This was stated in a statement by Seven & I Holdings in response to a media report about the proposed agreement. The company confirmed that it had received a confidential, non-binding and preliminary offer from ACT to acquire all shares of Seven & I, the company that owns 7-Eleven. The Japanese retailer has created a special committee to consider the offer from Couche-Tard, the statement said.
Nikkei Asia notes that the Canadian company has already expressed interest in buying Seven & I in 2020. Details of the offer, including the stake and payment terms, are not yet known. Experts suggest that buying 100% of Seven & I shares could cost at least 5 trillion yen (approximately $34 billion). This could be the largest foreign takeover of a Japanese company in history.
Following news of the possible agreement, Seven & I shares rose 22.7% to 2,161 yen, giving the company a market capitalization of 5.6 trillion yen. Seven & I operates a network of 85,000 convenience stores in 20 countries and regions, with plans to expand to 100,000 stores in 30 countries and regions by 2030. In 2021, Seven & I acquired Speedway, a convenience store operator with gas stations in the United States.
Alimentation Couche-Tard operates stores in North America, Sweden, Finland, Ireland, Poland and other countries under the Couche-Tard and Circle K brands: about 17,000 stores in nearly 30 countries. It is listed on the Toronto Stock Exchange and has a market capitalization of about C$80 billion ($58.5 billion).
The two companies will have combined sales of about 20 trillion yen ($135 billion), potentially creating one of the world's largest retail groups with convenience stores at its core.
