7-Eleven Group acquires majority stake in Tipple
Convenience franchise giants, 7-Eleven have acquired a majority interest in Tipple, Australia’s largest on-demand alcohol delivery start-up.
The acquisition sees The 7-Eleven Group diversifying its technological capabilities by investing in ‘last-mile’ delivery, a growing sector of the Australian alcohol retail market.
Angus McKay, 7-Eleven CEO said the acquisition furthered the brand’s commitment to innovation and consumer-centricity, placing the company at the forefront of the digital landscape.
“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,” McKay said
“Tipple’s business model and platform is well-aligned with these interests, and has grown significantly since starting up less than three years ago.”
The ‘last-mile’ alcohol delivery service is an industry experiencing strong growth, particularly in the U.S. where specialty services like ‘Saucey’ have thrived.
The 7-Eleven acquisition of Tipple presents the opportunity for collaborative efforts between the two companies in the future, however, McKay insists the current focus is firmly set on growth.
“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,” McKay said.
Ryan Barrington, founder and CEO of Tipple, said the start-up was excited to have the support of successful retailer with a proven track record.
“We couldn’t be happier to be preparing for the next phase of Tipple’s growth alongside 7-Eleven,” Barrington 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.”
Since launching in October 2015, Tipple has grown to service more than 120 suburbs across Melbourne and Sydney, with the start-up announcing plans to target more ones, cities and bottle shops over the next 12 months.