Daily Newsletter

23 November 2023

Daily Newsletter

23 November 2023

7-Eleven Canada acquires certain assets of food distributor W&C

The deal, which includes W&C assets in British Columbia and Alberta, will position 7-Eleven for continued growth.

Jangoulun Singsit November 22 2023

Convenience retail chain 7-Eleven Canada has purchased certain assets of food distributor Wallace & Carey (W&C) for an undisclosed amount.

The deal, which was completed on 21 November 2023, includes W&C assets located in British Columbia and Alberta.

As part of the agreement, 7-Eleven acquired lease facilities and provided a transition service agreement to purchase exclusively from W&C.

The convenience retailer also offered W&C working capital to help it get back to a stable operating position across Canada.

The acquisition will improve supply connectivity to companies and communities across the region.

7-Eleven Canada vice-president and general manager Marc Goodman said: "This transaction positions 7-Eleven well for continued growth in Canada, strengthening our already robust business in the country and bringing with it a range of long-term benefits for our stores by stabilising our supply chain.

“We feel confident that this acquisition will bring the maximum quality of service to our stores so that we can continue to serve our customers at the highest level."

Based in Calgary, Canada, W&C provides distribution and logistics to more than 7,000 customer locations and major retailers.

The company specialises in groceries, health and beauty products, confectioneries, frozen foods, tobacco products and more.

The acquisition comes after W&C and its owner, Carey Management, filed for creditor protection under the Companies Creditors Arrangement Act in June 2023.

W&C CEO Pat Carey said: "7-Eleven is a long-standing customer of Wallace & Carey and we're excited to further strengthen our partnership. Wallace & Carey will continue its day-to-day operations as usual, and we expect to emerge from this process better positioned for the future."

In September, CP ALL Laos, the master franchisee of 7-Eleven International, opened the first 7-Eleven store in Souphanouvong Avenue, Vientiane, Laos.

Traditional AI is here to stay in the retail and apparel space

Initially, retailers used AI for basic tasks, including inventory management and demand forecasting. However, its usage has now become more prevalent in other aspects such as personalized marketing, customer service, pricing optimization, and supply chain management. With the rise of ecommerce and the increasing importance of data-driven decision-making, AI adoption in retail and apparel has accelerated. The industry now relies on AI to enhance the shopping experience, optimize business operations, and gain an overall competitive edge.

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