7-Eleven signs deal with Electra Consumer Products in Israel

7-Eleven, the world’s largest convenience retailer, has signed a master franchise agreement with Electra Consumer Products to develop and operate 7-Eleven stores in Israel. Electra Consumer Products is a subsidiary of ELCO Ltd., a major Israeli company with a multi-faceted portfolio of business interests.

Israel will mark the 17th country in which 7-Eleven has expanded into, with the first stores expected to open in 2022.

“When looking to enter a new retail segment, we knew we wanted a company that had the experience and international reputation to deliver a first-class experience for Israeli customers,” said Electra Consumer Products CEO Zvika Schwimmer.

“7-Eleven introduced the world to convenience retailing and, today, is the undisputed international leader in the industry.

“As we begin to introduce 7-Eleven stores to neighborhoods across Israel, we are dedicated to offering the best shopping experience and products available.”

7-Eleven will support Electra Consumer Product’s development the brand localization.

“With its vibrant growing population and continued economic expansion, Israel presents an ideal location for 7-Eleven stores to grow,” said 7-Eleven, Inc. president and CEO Joe DePinto.

“Our strategic relationship with Electra Consumer Products will bring 7-Eleven’s brand of convenient products and services to millions of Israeli consumers.”

This has been a busy year for the convenience brand, with first-time expansions into Cambodia and India, as well as acquiring 3,800 Speedway stores earlier in the year, the largest acquisition in the sector’s history.