01 May 2023
On behalf of the shareholders of 7-Eleven Holdings (7-Eleven) the Board has commenced a process to facilitate a change of ownership of the business in Australia.
The process is at an early stage and is expected to take a number of months.
Chairman of 7-Eleven Holdings Michael Smith said,
“7-Eleven has an unrivalled brand and convenience footprint in the attractive fuel and convenience market in Australia.
“The business has great momentum and a compelling strategy for growth across convenient food , the continued transformation of our total merchandise offer, digital and format innovation, and new stores. With such a strong platform in place, the shareholders have decided that the time is right for new ownership of the business to oversee the next phase of our growth and development.
“Across our network of stores, it’s business as usual and our focus is on our customers and being the first choice in convenience retailing in Australia”.
Commenting on behalf of 7-Eleven’s shareholders, Mr Russell Withers said,
“From a single store in suburban Melbourne in 1977, 7-Eleven Holdings has grown to be Australia’s largest private fuel and convenience retailer, with a network of around 750 stores across Victoria, New South Wales, ACT, Queensland and Western Australia, processing 250 million transactions each year, and supporting the employment of more than 9,000 people across the corporate and franchise network.
“The Company has made significant progress in recent years on a number of fronts and is performing well under a highly credentialed management team, with an exciting outlook for growth.
“As such the Withers and Barlow families have decided that the time is right to review options for the future ownership of the business with a view to setting it up for future growth and success”.