A proposed buyout offer of 7-Eleven parent company Seven & I Holdings Co could take the American convenience store from being owned by a Japanese company to a Canadian company.
Many people likely have no idea that 7-Eleven is currently owned by a Japanese company according to a poll of Benzinga readers.
What Happened: Canadian convenience store owner Alimentation Couche-Tard Inc ANCTF has proposed an offer to buy Seven & I Holdings Co, the owner of 7-Eleven, for a reported $31 billion. The news of the deal sent shares of Seven & I Holdings higher to start the week.
7-Eleven was founded in the 1920s in Texas, which currently serves as the company's headquarters. The convenience store has been owned by the Japanese company since 2005, which many Americans likely weren't aware of.
"Did you know that 7-Eleven is a Japanese-owned company?" Benzinga asked its readers.
Seventy-one percent of poll respondents answered no, with 29% saying yes that they knew 7-Eleven was owned by a Japanese company.
While most readers weren't familiar with this example, there are dozens more American companies owned by foreign companies. Here are some examples.
Ben & Jerry's: The American ice cream company founded in Vermont, now owned by Unilever UL, a U.K. food and consumer products conglomerate.
Burger King: The restaurant brand is owned by Restaurant Brands International QSR, a Canadian-American company headquartered in Toronto that also owns Canadian coffee retail brand Tim Horton's.
Trader Joe's: The grocery store brand is owned by German company Aldi Nord, which also owns Aldi.
Smithfield Foods: The American pork producer and food processing company is owned by WH Group, a Chinese food company.
Chrysler: One of the American "Big 3" automakers, Chrysler is now a unit of Stellantis NV STLA, which is headquartered in the Netherlands.
Budweiser: One of the top-selling American beer brands, Budweiser was founded in St. Louis, Missouri in 1876. The company is now owned by Anheuser-Busch InBev BUD, which is headquartered in Belgium.
Why It's Important: If Alimentation Couche-Tard Inc. completes its takeover of 7-Eleven parent Seven & I, it would create the world’s leading convenience store operator, with over 100,000 combined locations globally.
The deal would also mark the largest takeover of a Japanese company if the buyout offer is approved.
Alimentation Couche-Tard is one of the most valuable Canadian public companies, and it would likely elevate into the top 10.
With a combined total of over 20,000 locations in the United States, the potential merger could face regulatory scrutiny in North America.
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The study was conducted by Benzinga on Aug. 19 and Aug. 20, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 121 adults.
Image created using artificial intelligence via Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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