Convenience retail chain 7-Eleven International has completed the A$1.71bn ($1.11bn) acquisition of its Australian franchise.
Two sides agreed to the deal in November 2023.
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7-Eleven International has added 750 stores to its Australian portfolio.
Its president and CEO Ken Wakabayashi stated: “We are thrilled to become one team and create stronger synergy with 7-Eleven Australia. 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.”
The acquisition presents opportunities for transformation within 7-Eleven Australia, including improvements to merchandise and fuel offerings.
The retailer can also expand product assortments and introduce new high-quality fresh foods.
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By GlobalData7-Eleven Australia CEO and managing director Angus McKay said: “It is about continuing to grow our store network in Australia and providing unrivalled customer experiences and quality products.
“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 is a joint venture between 7-Eleven and Seven-Eleven Japan, both owned by Seven & i Holdings.
The acquisition of the Australian franchise enhances Seven & i Holdings’ commitment to global growth and to promote the 7-Eleven brand.
7-Eleven International operates or master franchises 48,000 stores in 16 countries and regions.
In November 2023, 7-Eleven Canada purchased assets of food distributor Wallace & Carey for an undisclosed amount.
