9 replies to this topic

[Victoria Watcher]

7-Eleven parent to review takeover bid from Canada’s Couche-Tard

 

 

 

 

 

Seven & I Holdings, owner of convenience store chain 7-Eleven, has received a preliminary takeover offer from Canadian convenience store giant Alimentation Couche-Tard, parent of Circle K.

 

The Japanese company has formed a special committee to review the proposal. A source familiar with the matter told Reuters that the talks are “at a very early stage”.

 

Details of the offer, including the size of the stake and method of acquisition, were not disclosed. Seven & I’s shares surged by 22.7 per cent following the news on Monday, giving it a market value of 5.6 trillion yen ($38 billion).

 

If completed, the deal would be the largest acquisition of a Japanese company by a foreign one.

 

According to Nikkei, the committee will consider whether the proposal is an appropriate assessment of Seven & I’s corporate value and whether it will lead to long-term growth. The board of directors will then make their decision based on the conclusions.

 

 

 

https://insideretail...as-couche-tard/

 

 

 

 

I had zero idea that 7/11 was Japanese.

Edited by Victoria Watcher, 19 August 2024 - 04:17 AM.

[Mike K.]

I think I knew that, but then recently read it was Texas-based, so now I’m doubly confused.

[Mike K.]

Oh:

7-Eleven, Inc.[2] is an American convenience store chain, headquartered in Irving, Texas. The chain was founded in 1927 as an ice house storefront in Dallas. It was named Tote'm Stores between 1928 and 1946. After Ito-Yokado, a Japanese supermarket chain and the parent company of Seven-Eleven Japan, acquired a 70% stake in the company in 1991, the company became a wholly owned subsidiary of Seven-Eleven Japan in November 2005.[3][4] The chain is owned by Japanese company Seven & I Holdings through Seven-Eleven Japan Co., Ltd.[5]

[Mike K.]

Cool that it was named Totem Stores. I guess there’s a Pacific Northwest connection in there somewhere?

[Victoria Watcher]

Isn't that short for "Tote them"?

 

I watched a documentary the other day on the evolution of grocery stores, when they started with baskets and then shopping carts, there was resistance to their use.  Odd.

Edited by Victoria Watcher, 19 August 2024 - 07:02 AM.

[Victoria Watcher]

A 7-11 in downtown Vancouver has started locking up beverages to discourage theft.

 

The store at Hornby and Davie Streets has locked up their beverages along with cough drops, Q-tips and cables so anyone wanting one of these items will have to ask the clerk for help.

 

https://globalnews.c...ocks-up-drinks/

Edited by Victoria Watcher, 22 August 2024 - 10:29 AM.

[Mike P.]

Some demo activity happening at the former 7/11 location at Yates/Quadra

[Nparker]

The entire block from Johnson through to Yates along Quadra Street needs to be redeveloped.

[Victoria Watcher]

 

https://x.com/Adam_S...275793558872086

[Mike K.]

Someone from Odd Fellows, who apparently own the building, commented on VV to say it was a corporate decision to close the store.

I’m sure it was. I guess he thought maybe the staff decided to close it. Anyhow, I’ve been in there a couple of times in the last year and I asked the lady who has been a fixture there for many years how she does it. She said she’s about done doing it.

Recall that the Yates location put the company in a bad light when they tried keeping loiterers away by running a stream of water from an awning above the entrance. Shortly after being vilified for the practice, they closed down the store.