Franchise convenience chain 7-Eleven Stores has had the go ahead from the Australian Competition and Consumer Commission to integrate its Mobil Oil Austraila’s retail business.

The acquisition comprises 295 company owned or leased service stations and is dependent on the divestment of three stores. 

In addition to the compulsory divestment, the acquisition includes 29 outlets in South Australia where 7-Eleven does not operate, and these stores and assets will be transferred to a family owned business, the Peregrine Corporation.

Warren Wilmot, 7-Eleven chief executive officer, said While we would prefer not to divest stores, we will abide by the ACCC’s decision, which has been arrived at with professionalism and diligence.

We will now grow in Australia from 400 stores to more than 650, serving more than 160 million customers.