Bain Capital Agrees to Acquire Supermarket & Specialty Stores Businesses from Seven & i Holdings

TOKYO, March 6, 2025 - Bain Capital, a leading global private investment firm, today announced that it has signed a definitive agreement to acquire York Holdings’ headquarters and subsidiary management functions, along with its supermarket and specialty store businesses (“SST Business Group”). Bain Capital has also agreed with Seven & i Holdings regarding the absorption-type split and the implementation of a partial reinvestment from Seven & i Holdings.

Established in October 2024 as a wholly owned subsidiary of Seven & i Holdings, York Holdings oversees 29 subsidiaries and affiliated companies, including major supermarket chains Ito-Yokado and York-Benimaru, as well as specialty retailers including Loft, Akachan Honpo, and Seven & i Food Systems (which operates the family restaurant chain Denny's).

Founded in 1920 in Japan, Ito-Yokado has grown over 100 years under the philosophy of “striving to be a trustworthy company for customers, business partners, employees, and all kinds of stakeholders.” The company has built a reputation for high-quality food offerings, while demonstrating values of supporting the local community and the lives of customers.

York-Benimaru has a strong presence in the Tohoku and northern Kanto regions, operating community-focused supermarkets that provide fresh and ready-to-eat foods, daily necessities, home supplies, and clothing.

In addition to its supermarket operation, York Holdings manages specialty retailers such as Loft and Akachan Honpo, as well as restaurant chain Denny's. As an integrated retailer that enriches customers' daily lives through clothing, food, and housing, York Holdings is a leading force in the retail and consumer goods industry.

“SST Business Group is one of Japan's leading companies in the industry, centered around businesses such as Ito-Yokado, which has a history of over 100 years; York-Benimaru, loved by locals as the community's kitchen; as well as Loft, Akachan Honpo, and Denny's, that together as a comprehensive retail enterprise, support our daily lives,” said Naofumi Nishi, a Partner at Bain Capital Private Equity. “We are delighted to have the opportunity to partner with such a remarkable Group and further support its growth. Bain Capital will work closely with the Group, leveraging our expertise in supporting retail and consumer goods companies both globally and locally in Japan, to bolster the company’s continued growth. In addition, we will work closely with our in-house real estate specialist team to provide comprehensive support to maximize the value of the group-operated facilities by taking on initiatives such as attracting the best tenants to these facilities.”

Bain Capital has extensive experience supporting businesses in the retail and consumer goods sectors, including drugstore chains such as Kirindo and Dollarama (a dollar store operator in Canada), as well as brand and specialty retailers such as MASH Holdings, Snow Peak, and Canada Goose. Drawing on investment insights that Bain Capital has cultivated in this sector, Bain Capital will support SST Business Group in further strengthening its operational base and accelerating its medium-to long-term business growth, in partnership with the management and employees.

On this transaction, Bain Capital's financial advisors include BNP Paribas (as the lead), along with Citigroup Global Markets Japan Inc., and Mizuho Securities Co., Ltd. Legal advisors include Anderson Mori & Tomotsune and Ropes & Gray LLP.

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About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management.

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