Convenience store giant 7-Eleven set to buy Mobil petrol chain

[csv8]

Convenience store giant 7-Eleven set to buy Mobil petrol chain

From: AAP May 26, 2010 2:42PM

Convenience store operator 7-Eleven is firming as the surprise buyer of the 302 stores in the Mobil chain of Australian petrol stations.


Late last year the competition watchdog blocked Caltex's attempt to acquire the chain, saying the $302 million deal would have hurt competition.

The price of the deal has since dropped according to a report in PetrolWorld Magazine with 7-Eleven set to acquire Mobil for less.

Now it is believed 7-Eleven, an unexpected bidder, is firming as the favourite to grab the chain via the auction process.

The family of former federal Liberal minister and Lord Mayor of Perth Reg Withers controls 7-Eleven in Australia.

A 7-Eleven spokeswoman said: "We have no comment to make".

[Bud Bud]

Mobil is almost non existent in presence in Adelaide now since they started closing down their retail stores 10-15 years ago, especially in the western suburbs. I wonder if 7-11 or any other purchaser would even bother to reverse that trend here now.

Mobile probably was the preferred retailer of the 80's here though.

[flappist]

Originally Posted by Bud Bud

Mobil is almost non existent in presence in Adelaide now since they started closing down their retail stores 10-15 years ago, especially in the western suburbs. I wonder if 7-11 or any other purchaser would even bother to reverse that trend here now.

Mobile probably was the preferred retailer of the 80's here though.

Come to think of it there are none here anymore either, they all became BP a few months ago.

[Bundy]

yes se7en 11 might take over mobil, but it would only be picking up the scraps left over already, a bargin basement price if it could.

[Bundy]

yes se7en 11 might take over mobil, but it would only be picking up the scraps left over already, at bargin basement price if it could.

[HLC]

good news for CSD! more 7 11's to supply too!

[XR8 Uterous]

Tasco (caltex) already owns all the mobils here, and as far as I knew aus wide? All our mobils were converted to caltex about 2 months ago.

[vztrt]

Originally Posted by XR8 Uterous

Tasco (caltex) already owns all the mobils here, and as far as I knew aus wide? All our mobils were converted to caltex about 2 months ago.

The sale was actually stopped as it was seen as uncompetitive.

[FGX335]

CSD already supplied Mobil. The good sites are the Mobil Quix sites, they are worth getting. Are these up for sale too?

[HLC]

Originally Posted by fordbaghia

CSD already supplied Mobil. The good sites are the Mobil Quix sites, they are worth getting. Are these up for sale too?

i didnt realise they already did Mobil Mobil. was sure it was only 7/11 and the convenience sector. i should have asked my old man since he is in CSD/Metcash :

[Franco Cozzo]

My local petrol station has Mobil insignia on it, but its privately owned.

[saber]

Hmm, in Melbourne I haven't seen many (if any) Mobil petrol stations close down or get converted to another brand. The only one I know of is the former Mobil station on the Mooroduc Hwy (a couple of kays down from the Shell petrol station) out the back of Mornington. Its been converted to another brand but I can't remember the name of the company...

But yeah, in the northern surburbs of Melbourne, there is still 4 Mobils stations that I know of still operating.

[Eleanor]

There's been no Mobil here for a long time. Those friendly fellows from the sub-continent bought them and re-opened them as United. It's no good because they don't have the donuts like 7-11 and I won't go near them for fear of crook petrol and diesel .

[BFZ Wagon]

It would be interesting if any of this news of 7-Eleven buying out the Mobil sites is real.. 7-Eleven sites have been popping up slowly in the Gold Coast area for the past few years. I guess it would be a good opportunity to expand their presence in lots of areas where they aren't currently located?
I think Mobil has always had a major presence in Victoria compared to the rest of the country. I have seen quite a few Mobil & Quix sites disappear all over the place in the past few years though. I know that about 8 of the Mobil sites in the Bundaberg area changed over to BP late last year as the owner of the sites jumped ship.
Seems to be a lot of that.

We'll have to wait and see what happens eh.

[Luke Plaizier]

Wow. Mobil going under? I've been hiding under a blankert, I didn't realise.

All those years sponsoring Holden and HRT have taken their toll.


Lukeyson

[RG]

This'll be interesting, the two Mobil servo's on the Western Ring Road being changed to 7/11 could be interesting.

[ELGT4me]

Originally Posted by Luke Plaizier

Wow. Mobil going under? I've been hiding under a blankert, I didn't realise.

All those years sponsoring Holden and HRT have taken their toll.


Lukeyson

I don't think they exist in WA anymore!!!

[aussie muscle]

Originally Posted by Luke Plaizier

Wow.
All those years sponsoring Holden and HRT have taken their toll.
Lukeyson

dont' you mean all those years NOT sponsoring HRT? if they'd kept their presence with them we might not have forgotten about them. Given the close ties between petrol products and motorsport, it's a sin not to be involved in some kind of racing.

[flappist]

Originally Posted by Luke Plaizier

Wow. Mobil going under? I've been hiding under a blankert, I didn't realise.

All those years sponsoring Holden and HRT have taken their toll.


Lukeyson

Fairdinkum, you would have to be between a rock and a hard place to expect that it would be super cheap to run a racing team. You can't just buy your holden parts on trading post........

[vztrt]

Originally Posted by Luke Plaizier

Wow. Mobil going under? I've been hiding under a blankert, I didn't realise.

All those years sponsoring Holden and HRT have taken their toll.


Lukeyson

The petrol division has been in trouble for years. Oil on the other hand....

[drew`SEVNT5]

I thought that the total buyout of Mobil by Caltex was banned, but Caltex are getting about 1/2 of them.... Ive seen about 15 mobil sites around melbourne change to Caltex over the past 6 months...

[Jim Goose]

Still have at least 2 Mobil servos here in Townsville.
Interesting to see what happens

[Mr Hardware]

^ correct.
Mobil is now the new Ampol, ie the big chain that gets outdone by the independants.

[csv8]

Convenience store operator 7-Eleven Stores says it will become the largest independent fuel retailer in Australia after confirming the purchase of 295 petrol stations from Mobil Oil Australia.

7-Eleven said it had entered into a binding agreement with Mobil to buy the petrol stations, located primarily in the metropolitan areas of eastern Australia.

The acquisition created a merged entity with projected sales or more than $2.84 billion serving more than 160 million transactions each year, 7-Eleven said.

Russell Withers, the chairman of 7-Eleven Stores, a family-owned business, said the deal would increase its stores from 400 to more than 650.

The company's chief executive, Warren Wilmot, said most of the Mobil stores would be converted by the end of 2011, with sites being "significantly upgraded".

"The acquired sites are well-positioned with strong fuel and food store volume, bringing excellent synergies with 7-Eleven's current operations," Mr Wilmot said.



"In the short term, very little will change for employees, as we recognise that both companies have significant employee talent we wish to harness."

7-Eleven has struck a deal with Mobil to continue to supply the sites with fuel.

The deal also includes about 30 stores in South Australia, where 7-Eleven does not currently operate.

Late last year, the ACCC blocked Caltex's attempt to acquire the chain, saying the $302 million deal would have hurt competition.

7-Eleven said the transaction was not subject to ACCC clearance.

"7-Eleven believes that competition concerns are unlikely, however we fully expect the ACCC to conduct a market review," 7-Eleven said.

Mobil fuels director Kim MacMillan said the company was pleased to have reached agreement with 7-Eleven.

"The Australian retail fuels market is highly competitive and challenging," Ms MacMillan said.

"Mobil is now a relatively small participant in that sector of the market following the extensive rationalisation of its company-owned service station network over the last few years."

[uranium_death]

There are two Mobils at the same intersection in Glen Waverley/Brandon Park.
One on the SE Corner of Ferntree Gully Road and Springvale Road, and another on the NW corner.
Also a Mobil on the corner of Waverley Road and Springvale Road.

Mobil Car Care on the Waverley-Springvale Road site service our car. Good job and honest head-mechanic.
We used to go to the Ultra Tune at the Mobil on the NW corner of Springvale and Ferntree Gully Roads, but they kept trying to gouge us.

[dom_105]

The South Australian Mobil company stores have already been on-sold to a mob called the Peregrine Corporation.

http://www.abc.net.au/news/stories/2...ction=business

[Zed7fiddy]

will be interesting seeing the 7-11 up in lights at the twin "Moby Vicks" site at glasshouse mtns on the bruce highway! that place has been owned for as long as i can remember and then some by the same family, has a full on resturaunt attached to is as well, will be interesting to see how they modify them to 7-11 standards?

[dom_105]

Originally Posted by 67-FKD

will be interesting seeing the 7-11 up in lights at the twin "Moby Vicks" site at glasshouse mtns on the bruce highway! that place has been owned for as long as i can remember and then some by the same family, has a full on resturaunt attached to is as well, will be interesting to see how they modify them to 7-11 standards?

This deal is only for company-owned sites. It doesn't apply to Mobil franchisees, they can do as they please.

[V8falcons]

Great as my local is a mobil servo. hopefully it will get an upgrade