7-Eleven Stores Pty Ltd is now the third largest private company in Australia, after it announced that it has completed the acquisition of Mobil Oil Australia Pty Ltd’s retail fuels business, after signing a deal to buy Mobil’s retail arm in May.
7-Eleven Chief Executive Officer, Warren Wilmot, said the Mobil acquisition will significantly strengthen 7-Eleven’s presence on the eastern seaboard of Australia.
“We are thrilled that our acquisition of Mobil’s retail fuels business has been completed. The new sites build on 7-Eleven’s position as the leader in the convenience retailing industry in Australia, taking the number of 7-Eleven stores from 400 to more than 650.”
“We would also like to thank everyone from both companies who worked expeditiously to achieve the planned changeover for 4 October 2010.”
The Mobil retail acquisition comprises more than 250 company-owned or leased service stations, with the exception of 3 stores the ACCC mandated 7-Eleven divest itself from due to competition concerns and 29 Mobil branded service stations in South Australia, that were on-sold to South Australian family owned business the Peregrine Corporation, who have been operating in the state for 26 years.
“We expect to convert most of the Mobil sites into 7-Eleven stores by the end of 2011, with sites being significantly upgraded. This is also great news for our existing franchisees as it will bring supply chain efficiencies and greater buying and marketing power for 7-Eleven,” Wilmot concluded.
7-Eleven operates a growing franchise presence with franchises available from $300,000 – $800,000.
The three Mobil stores the ACCC is forcing 7-Eleven to divest from are located at:
- Mt Druitt site located at the corner of Luxford and Mount Streets, Mt Druitt, NSW (Mt Druitt);
- Ashmore site located at 170 Cotlew Street, Ashmore, Qld 4 124 (Ashmore);
- Riverhills site located at 138 Riverhills Road, Riverhills, Qld 4074 (Riverhills);
