Seven & i has announced plans for an initial public offering of its 7-Eleven North America business in a bid to fend off a $47 billion acquisition attempt by Canadian company Alimentation Couche-Tard.
The IPO, covering its 13,000 North American locations, is expected to take place by the second half of 2026.
The company also plans to sell its non-convenience store assets, including supermarkets and other retail stores, to Bain Capital for $5.37 billion by September 2025.
Proceeds from the IPO and asset sales will be used to fund approximately $13.2 billion in share buybacks.
Ryuichi Isaka, Seven & i’s president, said: “The group is executing key actions that are concrete, actionable, and value accretive.
“We have been on a journey to explore opportunities that create the most value for our shareholders and enhance our customers’ experiences around the world.
“This is the right time to move these initiatives forward, and the management team is excited to execute our transformation strategy while remaining focused on identifying avenues to continue driving shareholder value.”
Additionally, the company recently made leadership changes by appointing Stephen Dacus as chairman of the board, succeeding Ryuichi Isaka, effective after the group’s annual general meeting.
He will be the first non-Japanese leader in the role and has previous experience in Japan’s retail industry.
Dacus previously worked at Uniqlo’s parent company, served as CEO of Walmart Japan and is fluent in Japanese.
In his new role, he will oversee the group’s value creation strategy.
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