Consumer
7-Eleven Deal Talk Reflects Allure of Japan’s Convenience Stores
- Canada’s Couche-Tard approached Seven & i with buyout proposal
- Convenience-store operator was already expanding outside Japan
A 7-Eleven convenience store in Kawasaki, Japan.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
Anyone who’s stepped into a 7-Eleven in Japan to grab a quick snack or withdraw cash from the ATM will understand why Alimentation Couche-Tard Inc. would want to pay billions to acquire the business. It’s clean, service is efficient and the food is good.
Like cars, electronics and rail travel, the convenience-store chain is a western invention that the Japanese have refined to near-perfection. After bringing the concept to the island nation, the stores have transformed Seven & i Holdings Co. into a ¥5 trillion ($34 billion) global retailer.