7-Eleven International announced the successful completion of its acquisition of 7-Eleven Australia convenience stores.  “We are thrilled to become one team and create stronger synergy with 7-Eleven Australia. For nearly 50 years, the 7-Eleven Australia team has built the legacy of the brand as a top choice for convenience. Together, we can enhance customer experience in the store,”  said Ken Wakabayashi, President and CEO of 7-Eleven International. The two companies agreed to the $1.11 billion deal in November 2023, and now the international company has added more than 750 stores in the country to its portfolio. Both parties identified opportunities to transform the Aussie company’s merchandise and fuel offer, expand product assortment and introduce new high-quality fresh foods. “It is about continuing to grow our store network in Australia and providing unrivaled customer experiences and quality products,” said Angus McKay, 7-Eleven Australia CEO and Managing Director. With the successful transition…

Viva Energy is set to embark on a $250 million-plus revamp of its network of convenience stories and fuel stations to adapt them to the transitioning demands of its customers after wrapping up its $1.215 billion takeover of South Australia’s OTR Group. Chief executive Scott Wyatt said the acquisition, announced last April, not only immediately provided Viva with 226 additional convenience stores but also offered the opportunity to take an extremely successful proven offer in South Australia and roll it out nationwide. Viva, partly owned by commodities trader Vitol, owns the Shell-branded network of petrol stations. Over the next five years, Viva will overhaul its existing network of Coles Express stores, refreshing and rebranding them under the “On the Run” name and with a stronger focus on food to suit the changing demands of customers and the gradual shift towards electric vehicles. “It’s really about transforming our business from being a fuel…

The oil giant said on Thursday that it will divest 500 company-owned retail sites this year and next globally as part of its broader strategy. Dive Brief: Dive Insight: Shell did not share whether these divestitures will occur in pieces or large amounts at once. Regardless of how these locations are sold, offloading 1,000 of its c-stores over the next two years could mark a significant shift in the global c-store landscape. In the U.S., Shell — whose domestic headquarters are in Houston — has had something of a comeback in the c-store space over the past few years. Today, it operates about 250 retail sites, in addition to marketing fuel at about 14,000 branded gas stations across 49 states. After exiting the company-operated c-store business in 2007, Shell burst back onto the scene when it acquired 248 locations from Texas-based retailer Landmark Industries in 2021. At this time, Shell said it…

Visa and Mastercard have reached a nearly $30 billion settlement to limit credit and debit card fees for merchants by reducing their U.S. credit card interchange rates or swipe fees for at least a five-year period. The settlement, which also features a set of adjustments to Visa and Mastercard’s network rules, giving merchants more choice in how they accept digital payments, according to the credit card companies. The agreement includes: “This agreement brings closure to a longstanding dispute by delivering substantial certainty and value to business owners, including flexibility in how they manage acceptance of card programs,” said Rob Beard, chief legal officer, general counsel and head of global policy at Mastercard, San Francisco. “By negotiating directly with merchants, we have reached a settlement with meaningful concessions that address true pain points small businesses have identified,” said Kim Lawrence, president for North America at Visa, Purchase, New York. The settlement agreement with merchants resolves…