7-Eleven’s parent company Seven & i Holdings is mulling an initial public offering of its superstore business with the aim to grow its convenience store division, the Japanese retail giant said in a statement on Wednesday.
Its convenience store division includes its online food and internet shopping businesses, including its U.S. based subsidiary 7-Eleven. Within the sector, customers can purchase items such as lunch boxes, books, and games.
Seven & i said it was considering listing the superstore segment “as soon as reasonably practicable.” The division is made up primarily of supermarkets, such as Ito-Yokado and Shell Garden.
Seven & i said shareholders would continue to hold a stake in the independent business, so long as there is a continued food-related collaboration between its global convenience store division. In its filing, the company’s board proposed that the superstore segment be separated by 2026.
The company, which owns a slew of other retailers, has been aggressively reorganizing in a bid to grow its convenience store business. Among its plans to expand the sector’s reach include accelerating the investment pace of its mergers & acquisitions (M&A).
But even so, investor pressure has been mounting for quite some time and board members are concerned. In March 2023, the company said it would close 14 more of its Ito-Yokado supermarkets and exit its apparel business.
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