Seven&I Eyes Convenience Store Focus as KKR and Bain Capital Bid for Non-core Asset Acquisition

American investment firms KKR & Co. and Bain Capital LP are leading contenders in the acquisition process of non-core assets from Seven&I Holdings Co., a major Japanese conglomerate. Bain Capital has submitted a bid ranging from 750 billion yen to 1.2 trillion yen ($7.6 billion), while KKR's offer stands at about 800 billion yen. Local bidder Japan Industrial Partners has proposed a lesser amount. The sale strategy aligns with Seven&I's October decision to divest non-core components, aiming to emphasize their convenience store operations. In tandem, the founding Ito family, partnered with Itochu Corp. and supported by significant Japanese financial institutions, is orchestrating a $58 billion acquisition to reclaim company assets, countering Canadian Alimentation Couchetard Inc.'s $47 billion interest. These developments unfold amid evolving Japanese M&A norms and active investors advocating for Seven&I's heightened valuation and negotiations with Couche-Tard, a substantial retail entity. With a global footprint, Seven&I manages an expansive network of stores under influential banners, including 7-Eleven. KKR and Bain's participation underscores the rare but growing interest of foreign investors in Japanese corporate acquisitions.