Seven & i Holdings Announces Ambitious Expansion Plans

Seven & i Holdings, a leading Japanese retail conglomerate, has unveiled plans to open 500 new convenience stores across the United States and Canada by 2027. This strategic move aims to bolster the company's presence in North America and align with its broader goal of operating 100,000 stores in 30 countries by 2030.

Ito Family's Takeover Bid and Future Plans

The announcement comes amidst a tumultuous period for Seven & i Holdings, as the founding Ito family has made a $58 billion offer to take the company private. This bid is in direct competition with a takeover offer from Canada's Alimentation Couche-Tard. The Ito family also aims to raise over 1 trillion yen ($6.52 billion) through a potential listing of Seven & i's North American convenience store business, as reported by Bloomberg News.

Current State and Future Adjustments

Currently, Seven & i Holdings operates over 15,000 stores in North America. However, the company has previously announced plans to close 444 underperforming stores in the region. This strategic reconfiguration underscores the company's commitment to optimizing its operations and enhancing profitability in its North American market.