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Kekst CNC is providing media support for the Japanese owner of the 7-Eleven convenience store chain, which has rejected a $39B acquisition proposal from Canada’s Alimentation Couche-Tard Inc.
Seven & i Holdings had a special committee of its board, composed of independent outstanding directors including chairperson Stephen Hayes Dacus, review the bid and decided it was too low.
Couche-Tard, which means "night owl" in French, operates 16,700 Circle K and Couche-Tard stores in the US, Canada, Europe and Hong Kong.
Seven & i runs a network of 85K stores in the US and Asia. It has a market value of $85B.
If Seven & i accepts a revised offer, it would be the biggest takeover of a Japanese company by a foreign firm.
Dallas-based Southland Corp. opened the first 7-Eleven in 1927 and entered the Japanese market in 1974. Japanese supermarket company Ito-Yokado acquired a 70 percent stake in Southland in 1991, and 7-Eleven became a wholly-owned unit of Seven & i in 2005.
7-Eleven is viewed as a “national treasure in Japan,” and “an indispensable part of daily life,” according to the New York Times.
Kekst CNC has Ruth Pachman and Nathan Riggs representing Seven & i.
Publicis Groupe owns Kekst CNC.
Jennifer Kettnich, who was VP-investor relations at Walt Disney Co., has moved to the same position at Mattel.
Sitrick And Company represents BurgerFi International as the Fort Lauderdale casual “better burger” restaurant chain declares Chapter 11.
C Street Advisory Group handles Hoonigan as the marketer of auto enhancements and high-performance drivers’ gear declares Chapter 11.
Kekst CNC represents Agriculture & Natural Solutions Acquisition Corp. as it acquires Australian Food & Agriculture Co. in a SPAC deal valued at $510M.
There’s no shortcut to relationship building in the world of financial services PR.
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