One of Australia's largest convenience stores is up for sale, with the two families who own the chain set for a multi-billion-dollar payday. 7-Eleven first opened in Melbourne in 1977, and has about 750 stores across the country. 9News READ MORE:
's largest convenience retailers 7-Eleven is up for sale, with two families set to potentially have a multi-billion-dollar pay day.
The company told shareholders on Monday it intends to find new owners for the business but the process "is at an early stage and is expected to take a number of months". "The Withers and Barlow families have decided that the time is right to review options for the future ownership of the business with a view to setting it up for future growth and success," the company said in a statement.7-Eleven has grown from a single store in Melbourne in 1977 to one of Australia's largest fuel and convenience retailers, with about 750 stories across New South Wales, Victoria, the Australian Capital Territory, Queensland and Western Australia.
"With such a strong platform in place, the shareholders have decided that the time is right for new ownership of the business to oversee the next phase of our growth and development." Previously the franchise chain was ordered to pay back more than $173 million to employees after investigation
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