Convenience chain 7-Eleven International LLC has completed its takeover of the Australian business for $1.71 billion. In the process it has added more than 750 stores to its portfolio.
The Australian owners and the US/Japan joint venture 7-Eleven International agreed the deal in November 2023.
Ken Wakabayashi, president and CEO of 7-Eleven International, said “We are thrilled to become one team and create stronger synergy with 7-Eleven Australia. For nearly 60 years the team has built the legacy of the brand as a top choice for convenience. Together, we can enhance customer experience in the store.”
Angus McKay, CEO and managing director of 7-Eleven Australia, said the deal offers the opportunity for further expansion.
“It is about continuing to grow our store network in Australia and providing unrivalled customer experiences and quality products. My team and I are looking forward to taking advantage of 7-Eleven International’s deep experience in convenience retailing,” he said.
The acquisition is expected to lead to a transformation of 7-Eleven Australia’s merchandise and fuel range.
7-Eleven International LLC is a joint venture of 7-Eleven, Inc. and Seven-Eleven Japan, which are owned by the holding company, Seven & i Holdings. The Seven & i Group has a network of stores in 20 countries and regions with a focus on convenience stores, as well as superstores, specialty stores, and financial services.
