Convenience store giant 7-Eleven is in advanced talks with local partners to enter the Israeli market, Channel 12 news reported Monday.
Israeli fashion company Fox Group and appliance maker Electra Group have reportedly partnered to bring the chain to Israel and are expected to make an announcement to the Tel Aviv Strock Exchange in the coming days, the report said.
Texas-based 7-Eleven, which operates some 71,000 stores in 17 countries, is famous for being open 24/7, seven days a week, despite its name, and giving out free Slurpees, its iconic iced drinks, every July 11.
The report said the two Israeli companies had teamed up in a bid to enter the consumer retail sector, which was one of the few to profit during the coronavirus crisis.
The report said that there were hopes that the competition provided by 7-11 could help bring down prices in Israel in the sector.