Seven & i shares up 4% on reported stake talks with Poland’s Zabka
The facade of a 7-Eleven convenience store is seen in Los Angeles, California, on November 20, 2024.
Etienne Laurent | Afp | Getty Images
Seven & i Holdings Co.. Shares gained more than 4% on Friday, trailing the Nikkei report 7-Eleven’s parent company is nearing a deal to buy a stake in Polish grocery giant Zabka Group, the company said.
The potential transaction, expected to be worth several hundred billion yen, underlines Seven&i’s strategy to expand its grocery business abroad by entering the Eastern European market, Nikkei reported.
Founded in 1998, Zabka Group 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, rose 10.9% to a record high on Thursday.
Seven&i is accelerating its global expansion with a goal of increasing the number of stores worldwide, including Japan, from 87,000 to 100,000 by 2030. According to the Nikkei report, the company expects the Zabka investment to significantly strengthen its retail network in Europe.
If completed, the transaction would be Seven & i’s first major investment in an overseas convenience store operator in five years, following its $21 billion acquisition of US chain Speedway in 2021.
Seven & i Holdings and Zabka Group did not immediately respond to CNBC’s requests for comment.
