KUALA LUMPUR: 7-Eleven International LLC has successfully completed its acquisition of 7-Eleven Australia convenience stores in a deal worth A$1.71 billion.
The two companies had come to an agreement in November 2023.
Following the completion of this acquisition, 7-Eleven International's portfolio now includes over 750 locations throughout Australia.
7-Eleven International's president and chief executive officer (CEO), Ken Wakabayashi, expressed enthusiasm about the merger, highlighting the possibility of improved synergy between the two organizations as they come together to form a single, cohesive workforce.
"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 the customer experience in the store," he said in a statement.
7-Eleven International 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.
Seven & i Holdings is a Japanese diversified retail holding company listed in Tokyo.
Globally, the 7-Eleven trademark is represented in over 84,000 stores in 20 countries and regions.
According to the statement, 7-Eleven International and 7-Eleven Australia identified opportunities to transform the company's merchandise and fuel offer, expand its 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 under the leadership of its executive chairman, Shin Abe," McKay said.
With the successful transition of ownership, 7-Eleven International furthers Seven & i Holdings' commitment to global growth and enhancing the 7-Eleven brand.