Why a Canadian Rival Wants to Buy Japan’s 7-Eleven Chain
7-Eleven is the world’s largest convenience store chain, with 85,000 locations across 20 countries.
Recently, a Canadian company called Alimentation Couche-Tard, which runs the Circle K stores, made a surprise bid to buy 7-Eleven’s parent company, Seven & i Holdings.
This move is creating a buzz in Japan because it’s rare for a large Japanese company to be bought by a foreign firm.
7-Eleven has been very successful, especially in Japan and Thailand, where its food offerings are quite popular. The company’s CEO, Ryuichi Isaka, had talked about 7-Eleven’s success before the buyout offer came.
The bid is partly due to the Japanese yen being weaker against the US dollar, making Seven & i more affordable, according to BBC.
Seven & i Holdings has been focusing on expanding its 7-Eleven stores, particularly in the US and Europe, to match the success it has had in Japan.
The company has been buying other stores and improving its strategy to attract more customers. The chain, originally American, has been under Japanese ownership since the 1970s.
Experts suggest this situation might lead to more big Japanese companies being open to foreign buyers, as Japanese firms become more willing to accept international investments, as reported by BBC.
https://www.bbc.com/news/articles/c72829pl8z4o