Less than a year and a half after its launch, 7-Eleven, the American convenience store chain franchised by Electra, will cease operations in Israel by the second quarter of 2024.
The equipment and lease agreements (excluding the brand) have been sold to 7 Express for 3.3 million shekels. 7 Express, a local operator of about 113 convenience stores with an annual turnover of 250 million shekels, is owned by businessman Udi Saada and the Kamari Group, which also owns the Candyland chain and Juice Bar.
7-Eleven operates eight branches in Israel, including its flagship store in Tel Aviv's Dizengoff Center. These stores will now operate under 7 Express, whose owners announced a goal to expand the network to 200 branches through franchising.
(Navit Zomer)