Seven & i Holdings Acquires Australian 7-Eleven Chain

The deal, including 751 stores, positions the Japanese conglomerate as the industry leader in the Australian convenience store market.

Japanese retail conglomerate Seven & i Holdings has purchased the 7-Eleven convenience store chain in Australia for A$1.71 billion ($1.1 billion).
The deal includes 751 stores and establishes Seven & i as the industry leader in the Australian convenience store market.
Seven & i now controls more than 80,000 7-Eleven convenience stores globally.
The company has faced pressure from analysts and investors to restructure and shed underperforming assets.
Earlier this year, Seven & i closed 14 Ito-Yokado supermarket stores in Japan, exited its apparel business, and completed a sale of its Sogo & Seibu department store unit.