Franchise convenience chain, 7-Eleven, has completed its acquisition of Mobil Oil Australia’s retail fuels business.

The acquisition comprises more than 250 company-owned or leased service stations, primarily located in the metropolitan areas of eastern Australia, strengthening the franchise’s presence in the eastern seaboard convenience store market.

The combined entity is expected to serve more than 160 million customer transactions each year.

7-Eleven CEO, Warren Wilmot, said 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 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 news for our existing franchisees as it will bring supply chain efficiencies and greater buying and marketing power for 7-Eleven, said Wilmot.