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7-Eleven International settles Australian takeover

(Source: Bigstock)

7-Eleven International has completed the acquisition of the 7-Eleven Australia convenience store business for $1.71 billion.

With the transaction, 7-Eleven International has added more than 750 stores to its portfolio.

The two companies say they have identified opportunities to transform 7-Eleven Australia’s merchandise and fuel range, broaden product assortment, and launch new high-quality food products.

“It is about continuing to grow our store network in Australia and providing unrivalled customer
experiences and quality products,” 7-Eleven Australia CEO and MD Angus McKay said.

“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,” 7-Eleven International president and CEO Ken Wakabayashi added.

7-Eleven International is a joint venture of 7-Eleven and Seven-Eleven Japan, both owned by listed Japanese retail group Seven & I Holdings.

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