Retail Roundup: Couche-Tard makes bid to acquire 7-Eleven

Couche-Tard in talks to acquire 7-Eleven

Canadian C-Channel giant Alimentation Couche-Tard has made overtures to take over its larger competitor, 7-Eleven.

The Laval-based convenience behemoth, which operates 16,700 stores spanning 31 countries and with around 150,000 employees, offered to buy all outstanding shares of Seven & I Holdings of Japan, which would create a massive network of approximately 100,000 stores worldwide.

The terms of the proposal have not been disclosed.

On Monday, Couche-Tard announced it had reached an agreement with GetGo, a convenience store chain which operates approximately 270 convenience retail and fueling locations across Pennsylvania, Ohio, West Virginia, Maryland and Indiana. GetGo has a variety of models, including open-concept stores and stand-alone kiosks, and features an extensive menu of made-to-order foods.

In July, Alimentation Couche-Tard appointed Alex Miller as president and CEO, replacing Brian Hannasch.

Pusateri’s consolidates operations

Italian high-end grocer Pusateri’s is undergoing bankruptcy proceedings, as the company has cited the lingering effects of the pandemic and heightened operational costs.

Its flagship midtown Toronto Avenue Road location and its Saks Food Hall store in the Eaton Centre will remain open.

Pusateri’s had a location under construction in Toronto’s Little Italy neighbourhood, which has since been scuttled.

Albert Gelman Inc. has been appointed the insolvency trustee.

The grocer has been a staple of Toronto since a small location opened in the early 1960s.

T&T Supermarket to open third U.S. location

Loblaw-owned Asian banner T&T Supermarket is opening a location in San Jose, Calif., its third stateside.

The 55,000-square-foot facility, which is expected to open its doors by the fall of next year, will operate in a location vacated by Walmart.

The new location will feature a BBQ counter, noodle station, dim sum and street food sections, and a hot food bar. The store will also have an in-store bakery. It will be the first time California shoppers will be able to access the chain’s Private Label products, including pineapple cakes, Taiwanese sausages, soup pork dumplings and green onion pancakes.

The chain operates 33 locations in Canada, 13 of which are in the Greater Vancouver area.