7-Eleven will make a cash purchase of the 751-store 7-Eleven Australia chain for $1.71 billion Australian ($1.1 billion U.S.). The retailer, a long-time licensee of 7-Eleven, is the country’s largest independent convenience store chain, employing more than 9,000 people across the corporate and franchise network. The transaction is expected to close during Q2 2024.
“The acquisition of 7-Eleven Australia demonstrates our commitment to growing 7-Eleven’s operations globally,” said Shin Abe and Ken Wakabayashi, Co-CEOs of 7-Eleven International in a statement. “We are looking forward to continuing to enhance the 7-Eleven brand in Australia, which enjoys a long-standing presence and unrivaled brand recognition with customers.”
7-Eleven International plans to expand the Australian chain’s product assortment and introduce high-quality food products to address the country’s highly diverse food preferences.
“The acquisition by 7-Eleven International is a vote of confidence in our people, our strategy and the future of 7-Eleven Australia,” said Angus McKay, CEO and Managing Director of 7-Eleven Australia in a statement. “We will remain focused on the transformation of our total merchandise and fuel offer, the evolution of our convenient food proposition, digital and format innovation, as well as the rollout of new stores.”