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Alimentation Couche-Tard, a Canadian multinational convenience store operator, confirmed on Monday that it has submitted a “friendly, non-binding proposal” to Japan’s Seven & i Holdings, the parent company of the globally recognized 7-Eleven convenience stores. This proposal marks a significant potential acquisition in the convenience store industry, with Couche-Tard expressing its intent to reach a mutually beneficial transaction that would serve the interests of both companies’ customers, employees, franchisees, and shareholders.
The confirmation from Couche-Tard follows an earlier announcement by Seven & i Holdings, which acknowledged receiving an acquisition offer from its Canadian rival. The news of the offer led to a notable 23% surge in Seven & i’s share price on the Tokyo Stock Exchange, reflecting market optimism about the potential deal.
Couche-Tard operates an extensive network of 16,700 stores across Canada, the United States, Mexico, and Europe, as well as in various locations throughout Asia. The company has built a strong presence in the convenience store sector and is now looking to expand further by acquiring one of the largest convenience store operators in the world.
In response to the acquisition proposal, Seven & i Holdings has established a special committee of external directors to conduct a comprehensive evaluation of the offer. The company stated that it would conduct a “careful and comprehensive” analysis of the proposal, weighing it against other strategic options to enhance the company’s value. The establishment of the committee underscores Seven & i’s commitment to ensuring that any decision made will be in the best interest of its stakeholders.
Couche-Tard emphasized that while the acquisition could be significant, there is no guarantee that a deal will be finalized. The company also indicated that it does not plan to issue any further public statements regarding the discussions unless an agreement is reached.
The proposed acquisition reflects Couche-Tard’s strategic ambition to strengthen its global footprint in the convenience store industry. If successful, the deal could reshape the competitive landscape of convenience retailing, particularly in key markets across Asia and North America.