There was a flurry of news in May that an Israeli company was poised to sign a franchise agreement with the U.S. giant 7-Eleven convenience store chain.
But it remained uncertain whether that was "new news" or was based on a report from November, which we reported on at the time.
According to local media, the franchise would open new stores and also convert existing kiosks already located in workplace lobbies, universities, hospitals, shopping areas and city centers.
Reportedly in negotiations with 7-Eleven last month, Electra Consumer Products was looking to become a formidable player in the retail food sector opening an estimated 400 branches nationwide.
While there have been several attempts to bring 7-Eleven to Israel in the past, this is the farthest along any negotiations have gotten.
CEO of Electra, Zvi Schwimmer had apparently met with senior members of the 7-Eleven chain in Dallas to form an outline for the company's entry into Israel, Calcalist reported. In parallel, Electra is reportedly in discussions with popular Israeli supermarket chain, Yeinot Bitan – an acquisition that would significantly help Electra operate the 7-Eleven franchise, including the handling of imports and distribution.
The 7-Eleven chain, based in Texas, operates some 71,000 stores in 21 countries, including the United Arab Emirates, Sweden, China, Australia and South Korea. The chain is famous for being open 24/7 and giving out free Slurpees – its iconic iced drinks – every July 11 in honor of its name.
The network operates in accordance with the regulations of each new market it enters and, therefore, will only operate some of its branches on Saturdays, when many Israeli businesses are shuttered for the Shabbat day of rest.
While a Shabbat closure may result in 7-Eleven losing a significant market share against similar Israeli chains found in gas stations – AM:PM, Yellow, So Good and Menta – Israeli consumers hope the competition provided by 7-Eleven will bring down prices in the sector.
And while American immigrants to Israel might get excited at the prospect of seeing the familiar logo, the products offered at 7-Eleven stores here will likely vary compared to the U.S. branches.
The All Israel News Staff is a team of journalists in Israel.