A major step forward has been taken in the potential merger between two of the world’s largest convenience store chains, as Seven & i Holdings—the Japanese parent company of 7-Eleven—has entered into a non-disclosure agreement (NDA) with Alimentation Couche-Tard, the Canadian owner of Circle K.

This agreement paves the way for deeper discussions around a proposed deal that could be valued at nearly $50 billion. With the NDA in place, both companies can now share confidential information, conduct detailed due diligence, and coordinate efforts to secure regulatory approval.

Paul Yonamine, who chairs the special committee overseeing the proposal at Seven & i, described the NDA as “a constructive step forward” in the ongoing talks. He emphasised the company’s commitment to evaluating all options to deliver maximum value for shareholders and stakeholders alike.

Alimentation Couche-Tard, which reported net earnings of approximately $641.4 million in its most recent quarter, expressed continued confidence in the strategic benefits of the merger. In a public statement, the company said it sees a strong synergy between the two businesses and believes that uniting forces would accelerate global expansion of the 7-Eleven brand while enhancing Seven & i’s footprint in key markets.

A clause in the agreement prevents Couche-Tard from pursuing a hostile takeover while the discussions remain active, ensuring a collaborative and transparent approach as both parties explore the next phase of this potential mega-merger.For the latest retailer news and information, check out the ServoPro website or to speak to us about how we can help your business contact us.