7-Eleven Completes Transaction with Strasburger Enterprises, Acquires 23 Stores Across Texas
DALLAS, June 14, 2012 // PRNewswire // -- 7-Eleven, Inc. has completed a transaction with Strasburger Enterprises, Inc. to acquire 23 convenience store locations in Texas, the company announced today. Terms of the deal were not disclosed.
Operated primarily under the brand name of Quix, the stores are located across a swath of North and Central Texas from Haslet in Tarrant County in the north to Converse, just east of San Antonio, in the south. This acquisition brings the number of 7-Eleven, Inc. operated and franchised stores in Texas to 570.
"7-Eleven is continuing its accelerated growth, and this acquisition helps us meet the ambitious goals we have set," said Robbie Radant, 7-Eleven vice president of mergers and acquisitions. "We met our goal of opening more than 600 stores in the U.S. and Canada last year, and are on target to surpass that number in 2012 and reach our goal of 630."
7-Eleven will start remodeling and rebranding the locations soon, with the bulk of the work anticipated to be completed by the end of 2012. The converted stores will offer 7-Eleven's line of daily-delivered fresh foods and bakery, proprietary 7-Select products, well-known Big Bite hot dogs, other grilled and hot foods, Slurpee® and Big Gulp® beverages and standard grocery and convenience items. Stores will be available for franchise after they are remodeled.
"7-Eleven has extended job offers to qualified Strasburger employees who are affected by this acquisition, and we welcome them to the 7-Eleven team," Radant said.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 9,200 7-Eleven® stores in North America. Globally, there are more than 46,300 7-Eleven stores in 16 countries. During 2011, 7-Eleven stores worldwide generated total sales close to $76.6 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #3 spot on Entrepreneur magazine's Franchise 500 list for 2012, #3 in Forbes magazine's Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year honor from PL Buyer because of the company's private-label brand initiative. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
About Strasburger Enterprises, Inc.
Strasburger Enterprises, Inc., through its subsidiary Convenience Management Systems Inc. ("CMSI"), provides professional site operations programs throughout the United States for convenience store operators, fuel retailers, jobbers, and financial institutions holding foreclosed operating assets. Strasburger provides a turn-key solution for property owners or developers who want the site profitability and margins of the fuel and/or convenience store sector with out the day-to-day responsibility for operations, regulatory compliance or employees. For more information see www.strasburger.net or www.cmsistores.com.
SOURCE 7-Eleven, Inc.