New Zealand has scrapped its world-leading smoking “generation ban”, which would have stopped anyone born after 2008 from ever legally buying cigarettes. The world-first legislation was introduced just last year along with several other hard-line measures that aimed to stop younger generations from taking up the unhealthy habit. Under the laws, New Zealand’s smoking age would have been steadily lowered to stop those born after 2008 from ever buying cigarettes. Tobacco products would have been removed from 90 per cent of New Zealand retailers currently selling them and the amount of nicotine allowed in cigarettes would have also been reduced. Public health modelling suggested the legislation, which was due to be implemented from July 2024, would save up to 5000 lives each year. But on Saturday, New Zealand’s new finance minister Nicola Willis announced the measures will be axed in order to fund tax cuts. Ms Willis said that the…

Convenience and petrol retailer 7-Eleven’s Australian arm has been sold to its Japanese parent company after a hard-fought auction run by Azure Capital and Ashurst, Street Talk can reveal. 7-Eleven posted $220 million EBITDA in for the 2022 financial year, per the sale flyer.  It is understood Japan’s Seven & I Holdings, which owns the 7-Eleven global licence and collects licence fees from the Australian business, will pay $1.71 billion to own the Australian business in full on Wednesday. 7-Eleven owns about 750 stores across the country and forecast $220 million EBITDA for the 2023 financial year.  Seven & I fought off competition from ASX-listed fuel distributor and refiner Ampol and US private equity firm Platinum Equity to win the auction. 7-Eleven’s shareholders, the Withers and Barlow families, will exit the convenience and petrol retailer after acquiring the Australian licence in 1977. The Withers family had a $2.08 billion estimated net worth on this year’s Financial Review Rich…

Suntory Oceania will capitalise on the continuing popularity of ready-to-drink (RTD) beverages when its $400 million factory opens in mid-2024, with the V Energy range earmarked as the first brands to be produced.  The company made the announcement as it was celebrating the first year of construction of its $400 million manufacturing and distribution facility being built in Ipswich, Queensland. Its the largest local FMCG investment in Australia in a decade and will create 160 jobs. Beam Suntory and Frucor Suntory announced Suntory Oceania in August, creating a $3 billion beverage group. Together, 18 RTDs wll be produced at the plant. Circana’s Market Edge Liquor Outlook in September said, in Australia, RTD is the fastest growing liquor category at 4.8 per cent and account for almost 20 per cent of all liquor sales. Beam Suntory Oceania MD Mark Hill said Beam Suntory had been the largest contributor to value growth in…

Viva Energy has unveiled a target of doubling its annual revenues from its convenience and petrol station business, as it incorporates recent takeovers and moves to accelerate its transition from a pure-play fuel business to a broad retail and energy company. The fuels retailer is moving to reshape its business as the global energy transition is expected to drive a number of Australians towards electric vehicles, a trend that uproots the traditional fuel business model. To broaden the company, Viva recently completed the $300m acquisition of the Coles Express fuel and convenience retailing network, and is hoping to secure regulatory approval to close the acquisition of the 205-strong network of On the Run outlets from Peregrine Corporation’s OTR Group for $1.15bn. Offering investors the first details of how it expects to profit from those acquisitions, Viva Energy chief executive Scott Wyatt said the company was targeting a doubling of annual…

New laws for juvenile knife sale ban introduced to Parliament

We wrapped up our 2023 calendar of events with the Women in Convenience (WIC) Networking Events – and they were a resounding success! Bringing the industry together for a blend of networking and knowledge sharing, these events, open to all AACS members, serve as a powerful testament to the strength and vitality of our industry.  Held in a relaxed atmosphere with food and drink flowing fostered a sense of solidarity, provided member to member insights, and facilitated meaningful connections – plus a whole lot of fun!  The success of these networking events underscores the importance of continuing initiatives that promote the growth and empowerment of women in the convenience industry. AACS remains committed to creating connections, cultivating leadership, and driving positive change within the sector.  Be sure to keep an eye out for more AACS networking opportunities in 2024 and we look forward to seeing you there!