Oh thank heaven! 7-Eleven may be headed to the Holy Land
Fox and Electra reportedly plan to open about 250 branches in Israel in the coming years.
By TZVI JOFFRE7-Eleven shopfront in Singapore(photo credit: CALVIN TEO/WIKIMEDIA COMMONS)
7-Eleven convenience stores may be on their way to Israel. Israeli companies are in advanced stages of negotiations to bring the chain here.Fox and Electra Consumer Products have reportedly banded together in an effort to open 7-Eleven stores here.Electra is working to sign a nonbinding memorandum of understanding (MoU) with 7-Eleven to establish a company that will operate the stores under the 7-Eleven brand name.“After the signing of the nonbinding MOU, to the extent that they sign, the parties will negotiate the signing of a detailed binding franchise agreement, subject to acceptable terms,” Electra said in a report.Electra and Fox stressed that nothing is final and that a franchise agreement may not take place.Implementation of any agreements will be subject to conditions that are beyond Electra’s control, they said.The Fox group was less specific about a possible deal. “As part of its strategy, the company periodically examines business opportunities for the expansion and diversification of its activities and collaborations with various entities,” it said in a report. “If there is a development in the matter, the company will report again as required by law.”The plan is to open about 250 branches in the coming years, according to TheMarker.There have been multiple attempts to bring 7-Eleven to Israel in the past, but this time it seems like the plans could actually succeed, according to Channel 12.7-Eleven, founded in Texas in 1927, currently operates in 21 countries around the world besides the US, including the United Arab Emirates, Sweden, China, Australia and South Korea.The products offered at 7-Elevens vary depending on the country, so Israel may not have the exact same ones as the US or other countries. The company does operate a store with a large variety of kosher food and kosher hot dogs in Monsey, New York, and many of its products are generally kosher across its many US branches.Earlier this year, the chain opened store No. 71,100. More than 65 million customers are served by the company every day around the world, and a new 7-Eleven opens somewhere in the world about every three and a half hours.The chain is the latest American food provider to head for the Israeli market, following KFC’s fourth entrance into Israel earlier this year.
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