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7-Eleven Completes Acquisition of Mobil Retail Fuels Business
7-Eleven Stores Pty Ltd announced today that it has completed its acquisition of Mobil Oil Australia Pty Ltd’s retail fuels business.
7-Eleven Chief Executive Officer, Warren Wilmot, said, “We are thrilled that our acquisition of Mobil’s retail fuels business has been completed. The new sites build on 7-Eleven’s position as the leader in the convenience retailing industry in Australia, taking the number of 7-Eleven stores from 400 to more than 650.”
“The acquisition combines two successful companies with high-calibre workforces to make a stronger organisation focused on growth, our customers and our employees.
“We would also like to thank everyone from both companies who worked expeditiously to achieve the planned changeover for 4 October 2010.”
The acquisition comprises more than 250 company-owned or leased service stations, primarily located in the metropolitan areas of eastern Australia, substantially strengthening 7-Eleven’s presence in the eastern seaboard convenience store market. The combined entity will serve more than 160 million customer transactions each year.
“We expect to convert most of the Mobil sites into 7-Eleven stores by the end of 2011, with sites being significantly upgraded. This is also great news for our existing franchisees as it will bring supply chain efficiencies and greater buying and marketing power for 7-Eleven,” Wilmot concluded.