Canada’s Alimentation Couche-Tard has reportedly approached Japan’s Seven & i Holdings, the owner of 7-Eleven, about a potential takeover valued at around $38 billion. 7-Eleven is the world’s largest convenience store chain, with more than 13,000 locations in North America and over 83,000 worldwide. If successful, the acquisition would be the largest-ever foreign buyout of a Japanese company.

Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget.

7-Eleven, ranked #25 in the 2024 Franchise 500, has been owned by Japan’s Seven & I Holdings since 2005. Couche-Tard, which operates Circle K convenience stores, confirmed that it had submitted a proposal to acquire all outstanding shares of Seven & i. However, the Japanese company has not yet made a decision and has formed a special committee to review the offer.

Related: The Critical First 100 Days of Onboarding — What You’re Likely Overlooking That Could Make or Break Your New Hire

Couche-Tard, founded in 1980, has grown from a single store in Quebec to a global network of convenience stores and gas stations, largely through acquisitions. Circle K, ranked #56 on the 2024 Franchise 500, operates more than 12,000 franchises worldwide.

Related: Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New ‘Hall of Fame’

7-Eleven, the #3 Retail Franchise on the 2024 Franchise 500, recently announced its plans to make Japanese-inspired changes in the U.S., including upgrading its U.S. commissaries — 17 “hub” type locations around the country that make food for all its U.S. stores — and partnering with Japanese suppliers to offer a broader range of fresh food options. It’s unclear how the potential sale would impact these plans.

Read More: Reuters

https://www.entrepreneur.com/franchises/canadian-owner-of-circle-k-makes-a-move-to-acquire-7-eleven/478723