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▼ Seven & I To Give Bain Priority In Ito-Yokado Supermarket Spin-Off
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Seven & i Holdings Co is expected to make U.S. private equity firm Bain Capital the preferred buyer for its intermediate subsidiary operating Ito-Yokado supermarket chain, a source familiar with the matter said Saturday.
The Japanese retail giant is aiming to shed its noncore operations and focus on its 7-Eleven convenience stores business, as it tries to fend off a takeover bid from Canadian convenience store operator Alimentation Couche-Tard Inc.
Seven & i is aiming to reach a final agreement with the private equity firm in March. The two other potential buyers competing for the sale of the intermediate subsidiary York Holdings Co, are Kohlberg Kravis Roberts & Co and Japan Industrial Partners, Inc.
Bain Capital is reported to have made an acquisition proposal based on a valuation of over 700 billion yen for the subsidiary, which operates 31 retailers including the Ito-Yokado business.
Seven & i has said it plans to sell a majority stake in the subsidiary by February 2026, turning it into an equity-method affiliate.
Ito-Yokado has recorded consistent losses in recent years, leading to widespread store closures and a reduced presence across the country as it faces competition from online retailers and discount stores.
York Holdings also operates the Denny's casual restaurants brand in Japan, the Loft outlet chain and children's clothing chain Akachan Honpo Co.
The Japanese retail giant is aiming to shed its noncore operations and focus on its 7-Eleven convenience stores business, as it tries to fend off a takeover bid from Canadian convenience store operator Alimentation Couche-Tard Inc.
Seven & i is aiming to reach a final agreement with the private equity firm in March. The two other potential buyers competing for the sale of the intermediate subsidiary York Holdings Co, are Kohlberg Kravis Roberts & Co and Japan Industrial Partners, Inc.
Bain Capital is reported to have made an acquisition proposal based on a valuation of over 700 billion yen for the subsidiary, which operates 31 retailers including the Ito-Yokado business.
Seven & i has said it plans to sell a majority stake in the subsidiary by February 2026, turning it into an equity-method affiliate.
Ito-Yokado has recorded consistent losses in recent years, leading to widespread store closures and a reduced presence across the country as it faces competition from online retailers and discount stores.
York Holdings also operates the Denny's casual restaurants brand in Japan, the Loft outlet chain and children's clothing chain Akachan Honpo Co.
- 24/2 20:50
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