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- Shares of Seven & i Holdings Co. rose over 4% in early Friday trading in Tokyo following the Nikkei report.
- The Japanese convenience store giant eyes overseas expansion by boosting its global store count.
A 7-Eleven convenience store’s front is pictured in Los Angeles, California, November 20, 2024. Etienne Laurent | Afp | Getty Images
Seven & i Holdings Co. shares gained over 4% Friday after a Nikkei report said the 7-Eleven parent was nearing a deal to buy a stake in Polish convenience giant Zabka Group.
The potential transaction, expected to be worth several hundred billion yen, underscores Seven & i’s strategy to expand its overseas convenience store business by entering the Eastern European market, the Nikkei reported.
Zabka Group, established in 1998, has more than 10,000 franchise-operated stores in Poland selling hot snacks and groceries. Shares of the retailer, listed on the Warsaw Stock Exchange, closed 10.9% higher on Thursday, to hit a record high.
Seven & i has been accelerating its global expansion with an eye toward increasing its worldwide store count, including Japan, from 87,000 to 100,000 by 2030. The company expects that the Zabka investment will significantly bolster its retail network in Europe, according to the Nikkei report.
If finalized, the transaction would mark Seven & i’s first major investment in an overseas convenience store operator in five years, following its $21 billion acquisition of U.S. chain Speedway in 2021.
Seven & i Holdings and Zabka Group did not immediately respond to CNBC’s requests for comment.
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