7-Eleven to open first Tel Aviv store in 2022

7-Eleven / Photo: Shutterstock

Although open seven-days a week worldwide, Franchisee Electra Consumer Products says the store will only operate six-days a week in Israel, remaining closed on Shabbat.

Electra Consumer Products (TASE: ECP) has signed a 20-year franchise agreement with the US-based international convenience store chain 7-Eleven to operate the brand in Israel, with an option to extend the agreement for a further 50 years.

Electra Consumer Products plans to invest NIS 60 milion in opening stores throughout Israel, according to the memorandum of understanding that both sides signed in November 2020.

Electra Consumer Products plans to open 300-400 7-eleven convenience stores around Israel with the first store scheduled to open in Tel Aviv next year.

Electra Consumer Products already owns control of the Yeinot Bitan supermarket chain. Electra Consumer Products CEO Zvika Shwimmer told "Globes," "We have 140 branches of Bitan and Mega in the cities and we are now entering another sector - convenience stores which will be located in gas stations and city centers. We will be in Tel Aviv, Jerusalem, Beersheva and towns in the Arab sector, in neighborhoods in busy commercial areas, in hospitals, in universities, and more. We will be a strong player in malls. We have received thousands of enquiries from franchisees and grocery store owners who want to convert their stores. One advantage is that we will have a joint loyalty club for Yeinot Bitan and 7-Eleven."

Founded in 1927 in the US, 7-Eleven has 77,000 stores in dozens of countries.

Although the sotres are open seven days a week worldwide, Electra Consumer Products says the stores will remain closed on Shabbat (Friday night-Saturday) leaving the field open for rivals like AM:PM, and Yellow.

7-Eleven president and CEO Joe DePinto said, "With its growing and flourishing population and economic expansion, Israel presents the ideal location for the growth of 7-Eleven stores. Our strategic relations with Electra Consumer Products will bring the 7-Eleven brand, which specializes in convenience products and services to millions of Israeli consumers."

Electra Consumer Products will also import 7-Select, the chain's private label products, with an emphasis on coffee products.

Published by Globes, Israel business news - en.globes.co.il - on October 12, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

7-Eleven / Photo: Shutterstock
7-Eleven / Photo: Shutterstock
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