7-Eleven Group buys majority stake in Tipple
Another shift has occurred in Australia’s alcohol retailing and delivery market, with the announcement that the 7-Eleven Group has acquired a majority stake in online delivery start-up Tipple.
Tipple launched in 2015 and since then has grown to service more than 210 suburbs across Melbourne and Sydney. The service partners with local independent bottle shops to facilitate ‘last-mile’ delivery logistics.
Tipple’s founders developed a proprietary technology platform that integrates with local bottle shops to offer a delivery service and with the 7-Eleven Group’s investment the plan is to partner with more bottle shops, take the delivery logistics platform to a national scale and to focus on accelerating the growth and expansion of Tipple as a standalone business.
Angus McKay, CEO of 7-Eleven, 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.”
Not surprisingly 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.”
This acquisition is the second recent shift in Australia’s online alcohol landscape, following AB InBev’s purchase of national online retailer, BoozeBud.