7-Eleven franchise puts 700-store chain up for sale in Australia

Chairman said on Monday shareholders decided the business was ready for new ownership.

Australia’s largest private fuel and convenience retailer 7-Eleven Australia has put its national network of around 750 stores up for sale.

Chairman of 7-Eleven Holdings Michael Smith said in a statement on Monday shareholders decided the business was ready for new ownership.

“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,” said Smith.

From a single store in Melbourne in 1977, 7-Eleven has grown to have a network in 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,” added Smith.

The business claims to be the largest independent fuel retailer on the eastern seaboard with Mobil-branded fuel. The sale comes just months after the iconic convenience store increased the price of its famous $1 coffees and Slurpees.