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

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7-Eleven, ranked #25 IN 2024 Franchise 500has 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.

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

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7-Eleven, the #3 Retail franchise in the 2024 Franchise 500, recently announced her plans to make Japanese-inspired changes in the US, incl improving its U.S. commissaries—17 “hub”-type locations across the country that produce food for all of its U.S. stores—and partnering with Japanese suppliers to offer a wider range of fresh food options. It's unclear how the potential sale will affect those plans.

Read more: Reuters