Seven & i Holdings Co. Ltd. (OTCMKTS: SVNDY), the Tokyo-headquartered parent company of the 7-Eleven convenience store chain, announced it will spin off its North American operations into a separate company.
In a press statement, the company declared it would “pursue an IPO of SEI, its convenience store business in North America known as 7-Eleven, by the second half of 2026 on one of the major US stock exchanges. The Board is confident that an IPO at this time is the best path to unlock significant value for Group shareholders and position SEI for accelerated growth.”
Seven & i operates more than 85,000 stores with different brands across US and Asia, including the Speedway and Stripes convenience stores along with 7-Eleven. Last September, the company rejected a surprise acquisition bid from the Canadian-based Alimentation Couche-Tard Inc. (TSX:ACT) that could have created one of the world’s largest retail networks.
“An independent SEI will have increased financial flexibility and greater decision-making autonomy to capitalize on its market leadership as the largest convenience store chain in the attractive North American market with strong brand recognition and best-in-class digital offering in the industry,” said the company in its statement. “SEI is expected to re-rate its valuation in line with North American convenience store peers. In addition, by enhancing value distribution using IPO proceeds to fund share buybacks, the Company believes an IPO is the best path forward to maximize value for shareholders, at this time.”
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