SEVEN & I HOLDINGS CO., LTD. To whom it may concern:
March 9, 2016
Company name: Seven & i Holdings Co., Ltd. Representative: Noritoshi Murata,
President and Representative Director
(Code No. 3382/First Section of the Tokyo Stock Exchange)
7-Eleven, Inc. (headquarters: Texas, U.S.; President and Chief Executive Officer, Joseph M. DePinto), a subsidiary of Seven & i Holdings Co., Ltd., signed an agreement to acquire stores from Imperial Oil Limited.
Details of the agreement are provided below:
Purpose of the agreement
7-Eleven, Inc. has been increasing its merchandise capabilities and expanding its store network in North America. This agreement is intended to contribute to higher revenues and profits from convenience store operations in the region. Imperial Oil Limited is based in the provinces of Alberta and British Columbia, Canada, where 7-Eleven, Inc. has existing stores, and the agreement will therefore realize synergies between them.
Overview of the stores
(1)
Area:
The provinces of Albarta and British Columbia, Canada
(2)
Number of stores:
148 convenience stores
Overview of CB Mart, Inc.
(1)
Name:
Imperial Oil Limited
(2)
Representative:
Chairman, President and CEO, Rich Kruger
(3)
Location of headquarters:
Albarta, Canada
(4)
Major business activities:
Operation of fuel retail and convenience stores
Schedule of acquisition
Handover date of stores (plan):
Later 2016
Outlook
The agreement will have only a minimal effect on the Company's consolidated results for the fiscal year ending February 28, 2017, but this asset purchase is expected to contribute to profits over the medium to long-term.
Seven & I Holdings Co. Ltd. issued this content on 09 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 March 2016 08:28:29 UTC
Original Document: http://www.7andi.com/dbps_data/_material_/localhost/en/release_pdf/20160309_01en.pdf
