7-Eleven Australia owners ready to sell

7-Eleven Australia owners sell
The 7-Eleven business in Australia now has about 750 stores. (Source: Supplied)

The Withers and Barlow families which own 7-Eleven in Australia are looking to sell the business.

On behalf of the company’s shareholders, Russell Withers said “The company has made significant progress in recent years on a number of fronts and is performing well under a highly credentialed management team, with an exciting outlook for growth.

“As such, the Withers and Barlow families have decided that the time is right to review options for the future ownership of the business with a view to setting it up for future growth and success.”

The board of 7-Eleven Holdings has announced it is at an early stage of the process.

Chairman Michael Smith said “7-Eleven has an unrivalled brand and convenience footprint in the attractive fuel and convenience market in Australia.

“The business has great momentum and a compelling strategy for growth across convenient food, the continued transformation of our total merchandise offer, digital and format innovation, and new stores.

“With such a strong platform in place, the shareholders have decided the time is right for new ownership of the business to oversee the next phase of our growth and development.”

Smith said it is business as usual across the network of stores.

The search for new owners is expected to take a few months.