Seven & I Holdings to buy Australia's 7-Eleven Retail stores

Japanese retailer Seven and I Holdings has acquired Australia's convenience store chain 7-Eleven, two sources said on Nov. 29. A source said the deal was worth A$1.71 billion (US$1.14 billion). The source cannot be disclosed because the information has not been made public. The convenience store and gas station began selling all of its businesses earlier this year. 7-Eleven stores in Australia are owned by the Withers and Barlow families.

In 1976, they signed a regional licensing agreement to bring the 7-Eleven brand to Australia and opened their first store in Oakley, Victoria, in 1977. 7-Eleven, Inc. is an American supermarket chain based in Irving, Texas. Established by Seven and i Holdings of Japan through Seven-Eleven Japan Co., Ltd. The chain was founded in 1927 as an Ice House store in Dallas. From 1928 to 1946, it was called the Tote’m Store.

Japan has more 7-Eleven stores than anywhere else in the world, named after its holding company, Seven and I Holdings. Of the company's 71,000 stores worldwide, 21,215 (about 30% of its global stores) are in Japan, with 2,824 in Tokyo alone. On September 1, 2005, a new holding company, Seven and I Holdings Co., Ltd., became the parent company of 7-Eleven, Ito-Yokado, and Denny's Japan.

As of July 2019, 7-Eleven has stores in 47 prefectures in Japan and has opened 14 new stores in Okinawa Prefecture.