7-Eleven International to Acquire 7-Eleven Australia

7-Eleven Australia Acquisition Accelerates 7-Eleven International's Global Growth Strategy

IRVING, Texas, Nov. 30, 2023 /PRNewswire/ -- 7-Eleven International LLC (7IN) 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 in cash.

7-Eleven Australia operates 751 local stores and 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." 

Strategic and Financial Rationale

• Furthers Growth Strategy of Holding Company's Global CVS Business.
  7IN acquisition furthers Tokyo-based Seven & i Holdings Co., Ltd. (7&i) commitment to growing globally. 7&i will leverage 7-Eleven Australia's nearly 50-year business practices to further enhance the 7-Eleven brand.

• The Leading Convenience Chain in Australia.
  7-Eleven Australia is the #1 independent C-store operator with 751 stores across major populated areas and has the leading market share. With this acquisition, 7IN's investment will further accelerate its market-leading position in Australia, which has attractive growth opportunities driven by a young and diverse population.
  
  
• Significant Opportunity with Focus on Food.
  7IN plans to expand 7-Eleven Australia's product assortment and introduce new high-quality food products to address the country's highly diverse food preferences through strong value chain initiatives. 7IN will leverage best practices from the global 7-Eleven network to continue to drive an exciting C-store experience for customers.
  
  
• Accelerating ESG Progress: A Local-Global Collaboration.
  This acquisition advances the 7&i's 'Green Challenge 2050' goals for CO2 reduction and sustainability by synergizing expertise and expediting the adoption of sustainable practices across local and global markets.

Closing and Advisors

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 LLC is being advised on the transaction by BofA Securities Inc., Nomura Securities International Inc., Baker McKenzie, and Nishimura & Asahi.  

About 7-Eleven International

7-Eleven International LLC 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.

Read more about the company online at https://www.7-11int.com/. 

About Seven & i Holdings

Seven & i Holdings Co., Ltd., is headquartered in Chiyoda, Tokyo, a Japanese diversified retail holding company listed on the Tokyo Stock Exchange Prime Market (3382). The Seven & i Group has a network of stores in 20 countries and regions with a focus on convenience stores, as well as superstores, specialty stores, and financial services. The Group provides high-quality products and services to customers while "aiming to contribute to local and global communities by providing new experiences and values from the customers' point of view."

Read more at https://www.7andi.com/en/.

SOURCE 7-Eleven International LLC

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