The Australian 7-Eleven franchise has 700 stores up for sale

The operator of 7-Eleven convenience stores in Australia said on Monday that its board had begun the process of selling the entire business.

Australia’s largest convenience and fuel retailer, with more than 700 stores, the board of 7-Eleven Holdings has begun a process to sell the company.

The process is in its early stages and is expected to take several months, the company said in a statement on its website.

Australian 7-Eleven stores are licensed by US-based 7-Eleven Inc, owned by the Withers and Barlow families. In 1976, they signed a territorial licensing agreement to bring the 7-Eleven brand to Australia. In 1977 the first store opened in Oakleigh, Victoria.

“The company has made significant progress on many fronts in recent years and is performing well under a highly qualified management team, with exciting opportunities for growth,” Russell Withers said in a statement on behalf of 7-Eleven shareholders.

“Therefore, the Withers and Barlow families have decided that the time is right to review their options for the future ownership of the company, with future growth and success in mind,” he said.

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