April 10, 2017 // Franchising.com // IRVING, TEXAS - 7-Eleven, Inc., the premier name and largest chain in the convenience-retailing industry, is pleased to announce it has entered into an asset purchase agreement with Sunoco LP. As part of the agreement, 7-Eleven will acquire approximately 1,108 convenience stores located in 18 states.
“This acquisition supports our growth strategy in key geographic areas including Florida, mid-Atlantic states, Northeast states, and Central Texas,” said Joe DePinto, President and Chief Executive Officer of 7-Eleven Inc. “It also provides 7-Eleven entry into Houston, the 4th largest city in the United States, and a strong presence in Corpus Christi and across South Texas.
7-Eleven, Inc. has 8,707 stores in the United States and Canada. This acquisition will be one of the largest in 7-Eleven, Inc.’s history, and it will bring 7-Eleven, Inc.’s total number of stores to 9,815 in the U.S. and Canada.
The transaction is expected to close in the second half of this year.
7-Eleven, Inc. is the premier name and largest chain in the convenience-retailing industry. Based in Irving, Texas, 7-Eleven® operates, franchises or licenses more than 62,000 stores in 17 countries, including 10,900 in North America. Find out more online at www.7-Eleven.com, via the 7Rewards® customer loyalty platform on the 7-Eleven mobile app, or on social media at Facebook, Twitter and Instagram.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as prediction of future events. 7-Eleven does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
SOURCE 7-Eleven, Inc.