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REUTERS/Toru Hanai/File Photo The logo of Seven & I Holdings is seen at its headquarters in Tokyo, Japan.
Reuters
13:38 JST, December 1, 2023
SYDNEY (Reuters) — Japanese retail conglomerate Seven & i Holdings said on Thursday it has agreed to purchase the 7-Eleven convenience store chain in Australia for 1.71 billion Australian dollars (U.S. $1.1 billion), further expanding its ownership of the brand.
The Australian convenience and petrol retailer, owned by the Withers and Barlow families, kickstarted the process to sell the business — which consists of 751 stores — earlier this year.
The deal will allow Seven & i to establish “itself as the clear industry leader in the Australian convenience store market, which has significant growth potential,” the Japanese company said in a statement.
