In order to focus on its convenience-store business, Seven & i Holdings Co. Ltd.—parent of 7-Eleven convenience stores—on Monday said that it has completed the sale, announced in March, of its York Holdings Co. Ltd. supermarket and specialty retail subsidiary to Bain Capital for more than $5.5 billion.
Established in October 2024, York Holdings includes supermarket chains Ito-Yokado and Shell Garden; quick-service restaurant (QSR) and contract foodservice company Seven & i Food Systems, which operates the Denny’s restaurant chain in Japan; and 25 other businesses.
Under an asset-transfer transaction known as an “absorption-type split,” Boston-based private equity firm Bain will hold approximately 60% of York Holdings, with a partial reinvestment from Tokyo-based Seven & i and its founding Ito family.
Following the failed takeover attempt earlier this year by rival global convenience-store retailer Alimentation Couche-Tard Inc., parent of the Circle K brand, Seven & i has embarked on what it is calling the “transformation of 7-Eleven” at all levels of the organization.
That transformation effort includes the sale of businesses not in the convenience channel. The new initiative also includes a push to open approximately 1,000 new convenience stores in Japan and 1,300 new large-format, food-focused North American c-stores by 2030.
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