Shares in Seven & I rose 3 per cent in Tokyo on Friday as the Japanese retailer said it was in talks to buy a stake in Polish convenience store operator Zabka Group.
The 7-Eleven owner is considering acquiring Zabka shares held by funds, with the investment likely to total several hundred billion yen (several billion dollars), Nikkei reported.
A deal would extend Seven & I’s reach into Eastern Europe, beyond its strongholds in Japan and North America, as the retailer seeks to grow its business under CEO Stephen Dacus, who took the helm last year.
“Amid overall market weakness due to falling semiconductor stocks, defensive sectors centered on domestic demand are being bought,” said Naoshi Matsumoto, an analyst at Yamawa Securities.
Aeon, Japan’s largest retailer, also climbed 3 per cent while memory chipmaker Kioxia fell 15 per cent. Warsaw-listed Zabka, which has more than 13,000 stores in Poland and Romania, climbed 11 per cent overnight on the news.
In 2021, Seven & I acquired Speedway petrol stations, extending its position in the US. It already has outlets in three Nordic countries and has positioned Europe as a fourth pillar of growth.
Full story Seven & I in talks over multibillion-dollar stake in Poland’s Zabka - Inside Retail Asia
Share this:
