7-Eleven, which is Australia’s largest convenience store chain, is up for sale.
In a statement, its owners, Russell Withers and Michael Smith, said that the company’s board has initiated a process to sell the business.
The 7-Eleven business is well-positioned to continue its rapid growth and development due to its compelling strategy and the increasing number of new stores.
Its shareholders have also decided that it is time for new ownership to oversee its next phase of growth.
Despite the company’s intention to sell, 7-Eleven’s operations remain as usual.
The process is still in its early stages and it is expected to take some time to conclude.
Russell Withers noted that the company has grown from a single store in Melbourne in 1977 to become the country’s largest convenience retailer.
Over 700 7-Eleven stores are located in Australia, and they process over 250 million transactions annually.
The company was first brought to the country in 1977.
The Withers family first opened the first 7-Eleven store in Melbourne’s Oakleigh.