7-Eleven International has announced that it will acquire its licensee — 7-Eleven Australia, which is the largest independent c-store chain in Australia — for $1.71 billion in cash. 7-Eleven International will acquire 100% of the licensee’s shares.
7-Eleven Australia operates 751 local stores throughout the country.
“The acquisition of 7-Eleven Australia demonstrates our commitment to growing 7-Eleven’s operations globally,” said 7-Eleven International co-CEO’s Shin Abe and Ken Wakabayashi. “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 Australia has been led by the Withers and Barlow families since 1977. The company processes 250 million transactions each year and employs more than 9,000 people across the corporate and franchise network.
“The acquisition by 7-Eleven International is a vote of confidence in our people, our strategy and the future of 7-Eleven Australia,” said CEO and managing director of 7-Eleven Australia, Angus McKay. “The business has strong momentum and an exciting outlook for growth. Our customers will continue to come first, and 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.”
The company noted that the acquisition furthers its growth strategy, accelerates its market-leading position in Australia, emphasizes its focus on foodservice and accelerates its environmental, social and governance (ESG) progress.
The transaction is subject to customary regulatory approvals and closing conditions and is expected to be completed in the second quarter of 2024.
7-Eleven International is being advised on the transaction by BofA Securities Inc., Nomura Securities International Inc., Baker McKenzie and Nishimura & Asahi.
7-Eleven International is a joint venture between 7-Eleven, Inc. and Seven-Eleven Japan, Co., 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.
