The Withers and Barlow families, affluent stakeholders in 7-Eleven Australia, have finalised the sale of their business for $1.7 billion. The acquisition by 7-Eleven International LLC (7IN), a collaborative entity of 7-Eleven Inc and Seven-Eleven Japan, transfers full ownership of the Australian chain. Having nurtured the brand since its Australian inception in 1977, the families are passing on a network of over 750 stores and a brand with a significant market presence.
7-Eleven Australia, now a fully-owned subsidiary of 7IN, will benefit from global connections spanning 46,000 franchises and licenses across 16 nations. The Melbourne-headquartered enterprise employs over 9,000 individuals and handles 250 million transactions annually. This transition marks a strategic growth opportunity, particularly in regions where 7-Eleven currently lacks presence in Australia.
Russell Withers, representing the shareholders, expressed confidence in 7IN’s stewardship and the timing of the sale, acknowledging the brand’s robust performance and growth under its current management. The Australian team will continue leading the business under the new ownership structure, pending regulatory approvals.
The sale process, initiated earlier this year with guidance from Azure Capital and Ashurst, attracted interest from various entities, including Platinum Equity and Ampol. 7IN’s co-CEO Shin Abe views the acquisition as a commitment to global expansion, while 7-Eleven Australia’s CEO Angus McKay sees it as an affirmation of the company’s strategy and growth potential. Despite past controversies regarding wage underpayments, the sale underscores the brand’s strong market position, fueled by over $4.5 billion in annual sales.
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