7-Eleven owners look to US investment fund to fend off Couche-Tard

The Japanese Ito family, which owns 7-Eleven holding Seven & I, is looking to use capital of US fund Apollo Global Management and the owner of its Japanese rival FamilyMart to prevent a potential takeover by Canadian powerhouse Couche-Tard.

55 billion needed

Apollo Global Management has expressed willingness to contribute 1.5 trillion yen (9.1 billion euros) to the deal, while Familymart’s Itochu is expected to invest over a trillion yen (6 billion euros). The sum needed for the total buyout is estimated at 9 trillion yen (55 billion euros) and is supported by major Japanese banks, The Japan Times reports.

This strategic move is a response to an unsolicited bid from Canadian company Couche-Tard last year, which caused significant concern within Seven & I. The board is currently evaluating both proposals, noting that numerous details require further clarification. Concurrently, Seven & I is working on a restructuring plan to separate its profitable convenience store operations from its weaker retail segments.