Seven & i Eyes Global Expansion and M&A Deals to Boost Growth After Couche-Tard Withdrawal

Japan’s retail giant Seven & i Holdings, the parent company of 7-Eleven, is pursuing major growth initiatives through strategic mergers, acquisitions, and partnerships, Chief Financial Officer Yoshimichi Maruyama announced on Friday. The move comes as the company seeks to rebuild investor confidence following the withdrawal of a $46 billion takeover offer from Canada’s Couche-Tard in July.

The Tokyo-based retailer aims to showcase its ability to achieve sustainable global growth, focusing on strengthening its business portfolio and expanding internationally. Seven & i plans to list its North American convenience store arm by the second half of 2026, a step that underscores its strategy to unlock value from its most profitable market. Additionally, the company will repurchase approximately 2 trillion yen ($13 billion) worth of shares through fiscal 2030, regardless of whether the U.S. unit goes public. Maruyama clarified that the company is not planning any large-scale share sales at this stage.

Despite its ambitious plans, Seven & i shares have dropped about 20% year-to-date, reflecting investor caution. However, executives emphasized that ongoing restructuring and international expansion could help drive long-term shareholder value.

Looking beyond its established markets in Japan, North America, and the Asia-Pacific, the retailer is now setting its sights on Europe as a “fourth major growth pillar.” Currently, 7-Eleven operates 365 stores across Scandinavia, but CEO Ken Wakabayashi noted that “outside Scandinavia, Europe remains a blank area for 7-Eleven.”

In addition to Europe, Seven & i is exploring entry into high-growth regions such as the Middle East, Africa, and Latin America, signaling a broader push to become a truly global retail powerhouse.