7-Eleven International Closes $1.1B Deal for 7-Eleven Australia
IRVING, Texas — Call it a wrap. 7-Eleven International LLC (7IN) completed its acquisition of 7-Eleven Australia convenience stores.
The two companies agreed to the A$1.71 billion deal ($1.1 billion) in November 2023. With the closing, 7-Eleven International adds more than 750 convenience stores in Australia to its portfolio.
"We are thrilled to become one team and create stronger synergy with 7-Eleven Australia," said Ken Wakabayashi, president and CEO of 7-Eleven International. "For nearly 50 years, the 7-Eleven Australia team has built the legacy of the brand as a top choice for convenience. Together, we can enhance customer experience in the store."
7IN is a joint venture of 7-Eleven Inc. and Seven-Eleven Japan Co. Ltd., which are owned by the holding company, Seven & i Holdings Co. Ltd.
The companies identified opportunities to transform 7-Eleven Australia's merchandise and fuel offer, expand product assortment and introduce new high-quality fresh foods.
"It is about continuing to grow our store network in Australia and providing unrivalled customer experiences and quality products," said Angus McKay, 7-Eleven Australia CEO and managing director. "My team and I are looking forward to taking advantage of 7-Eleven International's deep experience in convenience retailing with the leadership of Executive Chairman Shin Abe."
With the successful transition of ownership, 7-Eleven International furthers Seven & i Holdings' commitment to global growth and enhancing the 7-Eleven brand.
Globally, the 7-Eleven trademark is represented in more than 84,000 stores in 20 countries and regions. 7-Eleven International operates or master franchises approximately 48,000 stores in 16 countries and regions. 7-Eleven Inc. operates, franchises and/or licenses more than 15,000 stores in the United States, Canada and Mexico. Seven-Eleven Japan Co. Ltd. operates and franchises more than 21,000 stores in Japan.