7-Eleven International closes $1.71 billion deal

April 1, 2024 | by magnews24.com

7-Eleven International LLC has expanded its global growth strategy via a big acquisition.

The company has completed its acquisition of  7-Eleven Australia convenience stores.  The two companies announced the $1.1 billion deal in November 2023. With the closing, 7-Eleven International adds more than 750 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.”

7-Eleven Australia is a long-standing licensee of 7-Eleven.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 unrivaled 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.”

7-Eleven International LLC 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.  Globally, the 7-Eleven trademark is represented in over 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 U.S., Canada, and Mexico. Seven-Eleven Japan Co. Ltd. operates and franchises more than 21,000 stores in Japan.  

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