Global Convenience Store Expansion on the Horizon
Seven & i Holdings Sets Sights on North America
In a bold move, Japan’s Seven & i Holdings has announced plans to open 500 new convenience stores across the United States and Canada by 2027. This strategic expansion is part of the company’s ambitious goal to operate 100,000 stores in 30 countries and regions by 2030.
A Family’s Vision for Growth
The Ito family, Seven & i’s founding family, has been driving the company’s growth strategy. Last month, they made a significant offer, estimated to be worth $58 billion, to take the company private. This move was prompted by a competing takeover offer from Canada’s Alimentation Couche-Tard.
North American Presence
Currently, Seven & i operates over 15,000 stores in North America. However, the company has identified areas for improvement and announced plans to close 444 underperforming stores in the region in October. The new store openings will focus on high-growth areas, ensuring the company’s continued success in the market.
Raising Capital for Expansion
To support its growth strategy, the Ito family aims to raise over 1 trillion yen ($6.52 billion) through a listing of Seven & i’s North America convenience store business. This capital injection will fuel the company’s expansion plans, enabling it to achieve its goal of becoming a global convenience store leader.
A New Era for Convenience Stores
As Seven & i Holdings embarks on this significant expansion, the company is poised to revolutionize the convenience store industry. With its sights set on 100,000 stores globally, Seven & i is committed to providing customers with unparalleled convenience and service.
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