7-Eleven Stores Pty. Ltd., the privately held company that operates 7-Eleven stores in Australia, said Aug. 13 that it has acquired a majority stake in the country's largest alcohol delivery startup, Tipple, for an undisclosed amount.
The convenience store operator said it is investing in on-demand last-mile delivery and technological capabilities with the move. The company also expects the deal to accelerate the growth and expansion of Tipple as a standalone business.
Hillside Capital and Gadens acted as Tipple's financial and legal advisers in the transaction.
7-Eleven Stores has a license to run and franchise 7-Eleven stores in Australia from U.S.-based 7-Eleven Inc., the overseas arm of Japan's Seven & i Holdings Co. Ltd.