7-eleven appoints first ever foreign CEO Steve Dacus effective May2025; 7-eleven North America (SEI) IPO in H2 2026
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Ito family raising 52 bil to privatize 7-Eleven chain & fend off Couche-Tard's hostile takeover
The founding family of the 7-Eleven chain of convenience stores is planning to take the holding company, Seven & I, private by Mar 2025. It is currently in talks with major local and international banks and Japanese conglomerates to raise the 52 bil required to take the company private and fend off a hostile takeover by Canada's Alimentation Couche-Tard with a bid price of 47 billion.
7-Eleven chain reports 27.9% decline in first half net income; aims to spinoff non-core assets
Seven & I holdings reported a 27.9% decline in net income for the first half of FY24 on weaker store sales. Management plans to focus on expanding profitable convenience store network and closing underperforming ones while spinning off non-core businesses like supermarket chain Ito Yokado to select partners at a reasonable valuation, to improve earnings and shareholder value.