Omnichannel
Circle K parent makes play for 7-Eleven parent company
August 20, 2024
Alimentation Couche-Tard, a convenience store chain based in Canada that operates Circle K stores, is making overtures to acquire Seven & i Holdings, the Japan-based parent company of 7-Eleven.
The takeover would form one of the largest retail groups in the world, according to a New York Times report.
Seven & i, which operates 85,000 stores in the U.S. and Asia, issued a statement that it had created a committee of independent directors to consider and review the officer. Alimentation Couche-Tard runs more than 16,000 Couche-Tard and Circle K locations across Europe and North America.
The news comes 18 months after Alimentation Couche-Tard Inc. announced it was acquiring 45 fuel and retail sites from Big Red Stores, founded in 1997 by Doug and David Hendrix.
In February of this year 7-Eleven Inc. announced it was acquiring 204 stores from Sunoco LP, including Stripes convenience stores and Laredo Taco Co. restaurants.
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