Japan's Seven & i Holdings, parent company of 7-Eleven, said today it plans to open 500 new convenience stores in the United States and Canada through 2027, according to Reuters. 

“A company spokesman confirmed an earlier report by Kyodo News about the plan for convenience stores in North America, adding that it was part of Seven & i's strategy to grow to 100,000 stores in 30 countries and regions by 2030,” wrote Reuters. 

Last month, Seven & i Holdings received a buyout proposal from a member of its founding Ito family. Vice President Junro Ito, the founder’s son, issued the proposal along with his company Ito Kogyo. 

According to The Japan Times, “The effort, which brings together a member of the company’s founding family, a giant trading company and some of Japan’s largest banks, is the latest twist in the battle for control of one of Japan’s most successful enterprises and one of the world’s best-recognized brands.” 

According to Reuters, the offer is “non-binding and under review by the same special committee set up to assess Couche-Tard's takeover bid.” 

“We are committed to an objective review of all alternatives before us as we consider proposals from Mr. Ito and Ito Kyogo, from [Alimentation Couche-Tard] ACT, as well as the company’s standalone opportunities to unlock shareholder value,” said Stephen Dacus, chair of the special committee and board of directors, in a statement from Seven & i. 

The offer is a counterbid to the revised takeover bid Seven & i Holdings received from ACT at the beginning of October, which raised its initial takeover bid from August by about 20%.