7-Eleven International inks 750-store acquisition deal

7-Eleven International has expanded its global growth strategy via a billion-dollar acquisition.

The company has entered into an agreement to acquire 7-Eleven Australia, the largest independent convenience store chain in Australia. As part of the agreement, 7-Eleven International will acquire 100% of the shares of 7-Eleven Australia for A$1.71 billion ($1.1 billion) in cash.

7-Eleven Australia operates 751 local stores across major populated areas and has the leading market share. It is a long-standing licensee of 7-Eleven.

"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 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. Ltd., which are owned by the holding company, Seven & i Holdings Co., Ltd. Globally, the 7-Eleven trademark is represented in over 84,000 stores in 20 countries and regions. 

7-Eleven International master franchises and/or licenses 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. The iconic brand will celebrate its 100th anniversary in 2027.