7-Eleven Group buys majority stake in alcohol delivery firm Tipple
The 7-Eleven Group has acquired a majority stake in Australian alcohol delivery firm Tipple.
Through the purchase, the retailer hopes to accelerate the growth of Tipple as a standalone business.
Founded in 2015, Tipple partners with local and independent bottle shops to facilitate the ‘last-mile’ delivery of beverages.
- Monster Beverage quarterly net sales exceed $1bn in company first
- Brewdog launches first bar in Asia with Seoul brewpub debut
- PepsiCo chief executive Indra Nooyi to step down after 12 years at top position
The Australian firm currently operates in more than 120 suburbs in Melbourne and Sydney, with more cities and bottle shop partners targeted for the next 12 months.
7-Eleven CEO, Angus McKay, said: “7-Eleven led the way in digital innovation with our world-first Fuel App, and continue to explore how we can best meet the evolving needs of our convenience customers through digital, delivery and in-store services.
“Tipple’s business model and platform is well-aligned with these interests, and has grown significantly since starting up less than three years ago
“While in time there may be interesting opportunities for the two businesses to explore and work together serving convenience customers, for now this partnership is about bringing our customer insights and marketing expertise to help accelerate the growth and expansion of Tipple as a standalone business,” he added.
Ryan Barrington, Founder and CEO of Tipple, welcomed the backing of Australia’s largest convenience retailer.
“We couldn’t be happier to be preparing for the next phase of Tipple’s growth alongside 7-Eleven,” he said.
“Their expertise and capabilities are unparalleled, but it’s our shared ambition to create new and engaging customer experiences on the cutting edge of convenience that excites us most.
"We’re very excited about the potential for this partnership to transform the landscape of both alcohol and convenience retailing in Australia."