The retailer is banking on its new value meals to boost same-store merchandise revenue, which has dropped the past four quarters.

Canadian convenience store and fuel retailer Alimentation Couche-Tard Inc. remains committed to snapping up its Japanese rival Seven & i Holdings Co. despite a new management buyout proposal valued at about $58 billion.

Circle K-owner Alimentation Couche-Tard has entered a binding agreement to acquire 20 company-owned and operated convenience retail and fuel sites operating under the Hutch’s brand. It also will acquire one land bank, located in Oklahoma and Kansas, the company said in its news releases on its second-quarter fiscal year 2025 results.

Alimentation Couche-Tard Inc.'s chief executive says the company is taking a "persistent" but "friendly" approach with the Japanese owner of the 7-Eleven convenience store chain it's trying to acquire.

Couche-Tard, which owns the Circle K chain, is now offering about US$47-billion to acquire Seven & i and its network of chains