ALIMENTATION COUCHE-TARD COMMENTS ON SEVEN & I HOLDINGS’ RESPONSE NOT TO ENGAGE IN FRIENDLY DISCUSSIONS REGARDING A VALUE CREATING COMBINATION By Investing.com

LAVAL, QC, Sept. 8, 2024 /PRNewswire/ – Alimentation Couche-Tard Inc. (“Couche-Tard” or the “Corporation”) (TSX: ATD), a world chief in comfort and mobility, in the present day issued the next assertion concerning the response letter despatched by the Board of Administrators of Seven  &  i Holdings Co., Ltd. (“7&i”) in response to Couche-Tard‘s pleasant, non-binding proposal:

Couche-Tard  has  deep respect for 7&i and the enterprise  it has  inbuilt Japan and world wide, together with  its  working mannequin, franchisee community and model.  We  proceed to have robust conviction that  a mixture  with 7&i has clear strategic and monetary advantages for each firms’ clients, staff, franchisees and shareholders. We consider that, working collectively, we are able to efficiently attain and full a mutually agreeable transaction. We consider a mixture would considerably improve the vital roles our firms play in our clients’ day by day lives. Collectively, we’d create a number one international retail platform with over 100,000 websites spanning Asia-Pacific, North America, Australia, and Europe. Our complementary companies, shared values and glorious strategic match would permit us to attain considerably extra collectively than we may individually. This consists of additional increasing the enduring 7-Eleven model internationally, enhancing relationships with franchisees across the globe and attracting and retaining world-class expertise. Collectively, we are able to drive progress, be taught from one another’s working experience, profit from shared greatest practices and ship excellence to clients. This collaboration would additionally assist us obtain each firms’ sustainability objectives and drive innovation for the good thing about all stakeholders.

Extremely Assured Discussions Would Result in Elevated Worth

Given the mutual advantages of a mixture, we’re disenchanted in 7&i’s refusal to interact in pleasant discussions. We’re extremely assured that collaborative discussions would result in our skill to search out elevated worth for 7&i shareholders. We requested to have our advisors have interaction in discussions with the advisors to 7&i which was rejected. We supplied to enter right into a Non-Disclosure Settlement (“NDA”) to allow each side to share data to search out extra worth, and this request was additionally rejected. We stay prepared and prepared to enter into an acceptable NDA to advance pleasant discussions. Along with enabling Couche-Tard to search out extra worth, engagement may also allow us to refine our regulatory proposal to sufficiently handle deal certainty, as referenced in 7&i’s response letter.

Regulatory Approvals

Couche-Tard  has  a profitable historical past and observe report of acquisitions and dealing with U.S. and different regulators, in full compliance with relevant processes and necessities.  The U.S. comfort retailer market is extremely fragmented, with over 150,000 shops nationally. Each  Couche-Tard’s  and  7&i’s  shops function within the U.S. in competitors with a wide selection of brick and mortar and on-line meals and merchandise suppliers. Moreover,  7&i  and  Couche-Tard  largely function in complementary markets throughout the U.S.

As 7&i and Couche-Tard have each carried out beforehand as a part of profitable acquisitions, we’d, alongside 7&i, collectively contemplate divestitures which may be required to safe regulatory approvals.

In Japan, we  consider  that along with 7&i, we’d supply a compelling mixture that addresses all regulatory issues and acknowledges the significance of seven&i in Japan with respect to areas similar to meals provide, banking and safety companies. We consider there are actually options to satisfy any regulatory wants whereas securing the well-established ecosystem 7&i has efficiently created in Japan.

Shareholder Returns

Couche-Tard has an extremely robust observe report of making worth for shareholders and its different stakeholders. Couche-Tard has been a unprecedented steward of capital, having pushed robust working efficiency and efficiently integrating numerous acquisitions. Couche-Tard has generated whole shareholder return of over 450% within the final 10 years, greater than 9 instances higher than 7&i over the identical interval.

7&i Japanese Operations

We have now super respect for the robust, international  enterprise 7&i operates, particularly in Japan the place  its  shops have reached an impressive degree of excellence.  We additionally acknowledge the vital position the corporate performs in on a regular basis life in Japan, and we’d intend to proceed to function the enterprise in a fashion in step with offering this service for native communities.  

When coming into new markets,  Couche-Tard  at all times  takes  a humble method. We might respect how  7&i operates  in Japan.  Couche-Tard  has a powerful historical past of partnership, at all times sustaining and studying from native management and staff, and empowering native leaders and operators with sources to allow them to maintain  serving their clients and communities.

7&i’s Necessary Position in Japan

We additionally  acknowledge  that 7&i performs  an vital position  in  Japan’s emergency response and serves as  part of the group lifeline and social infrastructure. We’re dedicated to 7&i persevering with to serve on this capability. Couche-Tard  additionally has deep expertise supporting our communities throughout disaster, together with throughout pandemics, hurricanes, fires, floods and different devastating pure disasters. Much like 7&i, we keep open, present necessities, and are vital to emergency responses in our communities.

Proposal Not Topic to Financing

Primarily based on substantial work and preparation, we’re extremely assured that we’ve got adequate capability to finance the transaction in money and that financing wouldn’t be a situation to closing a transaction.  Couche-Tard  has a really robust stability sheet  and  robust  funding grade credit score rankings. We’re a classy and disciplined person of the capital markets and have well-established relationships with main monetary establishments and traders who’re prepared to assist us on this transaction.  We have now secured a letter from our monetary advisor stating that it’s extremely assured that it is ready to organize the financing for the proposed transaction, topic to customary circumstances. Our acquisition historical past displays a excessive degree of self-discipline and execution excellence on behalf of our stakeholders, and we plan to take the identical method on this scenario.

In abstract, we stay extremely centered on consummating a transaction with 7&i that’s in one of the best pursuits of all constituencies. We stand by ready to enter into collaborative and pleasant discussions with 7&i to concentrate on discovering higher worth for 7&i and its shareholders, offering regulatory certainty and making certain that the mixed entity continues to be the chief and supplier of premier choices within the markets we each serve.

About Alimentation Couche-Tard Inc.

Couche-Tard is a world chief in comfort and mobility, working in 31 international locations and territories, with greater than 16,800 shops, of which roughly 13,100 supply street transportation gas. With its well-known Couche-Tard and Circle Okay banners, it is likely one of the largest unbiased comfort retailer operators in the USA and it’s a chief within the comfort retailer trade and street transportation gas retail in Canada, Scandinavia, the Baltics, Belgium, in addition to in Eire. It additionally has an vital presence in Luxembourg, Germany, the Netherlands, Poland, in addition to in Hong Kong Particular Administrative Area of the Folks’s Republic of China. Roughly 149,000 persons are employed all through its community.

For extra data on Alimentation Couche-Tard Inc., or to seek the advice of its audited annual Consolidated Monetary Statements, unaudited interim condensed consolidated monetary statements and Administration Dialogue and Evaluation, please go to: https://corpo.couche-tard.com.

Ahead-Wanting Statements

Sure statements on this press launch might represent ahead trying statements throughout the that means of securities laws, together with, with out limitation, these with respect to any potential transaction with 7&i, its anticipated advantages for each firms’ clients, staff, franchisees, shareholders and different stakeholders and regulatory and financing issues, and there will be no assurance that any transaction involving 7&i’ll finally be agreed or proceed. Optimistic or damaging verbs similar to “believe”, “can”, “shall”, “intend”, “expect”, “estimate”, “assume” and different associated expressions are used to establish such statements. Such statements are primarily based upon the present beliefs and expectations of Couche-Tard and are topic to important dangers and uncertainties outdoors of Couche-Tard‘s management. Couche-Tard wish to level out that, by their very nature, forward-looking statements contain dangers and uncertainties such that its outcomes, or the measures it adopts, may differ materially from these indicated in or underlying these statements, or may have an effect on the diploma of realization of a specific assertion or projection. Until in any other case required by relevant securities legal guidelines, Couche-Tard disclaims any intention or obligation to replace or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case. The forward-looking data on this launch is predicated on data out there as of the date of the discharge.