Oct 4, 2024 - Business

7-Eleven owner reportedly considers supermarket stake sale

Dan Primack

Illustration of a grocery basket full of cash. — Illustration: Gabriella Turrisi/Axios

Seven & i Holdings, the Japanese owner of 7-Eleven, is weighing a sale of shares in its supermarket unit ahead of listing the business, according to Reuters.

The big picture: The convenience store giant is under activist pressure to improve earnings, and seems to be throwing its Slurpees against the wall to see what sticks.

The supermarket news comes one day after a report that Seven & i may seek buyers for part of its banking business.
Just weeks earlier, it rejected a takeover approach from Circle-K owner Alimentation Couche-Tard.

Go deeper, via Reuters: "The supermarket business includes the Ito-Yokado chain, one of Japan's best-known grocery store businesses. ... Selling down some of its stake would allow Seven & i to bring in a partner that could accelerate its overhaul of the unit [and] free up its resources to better focus on its core convenience store unit."

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7-Eleven owner reportedly considers supermarket stake sale

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