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7-Eleven Acquires 55 Sam’s Mart Stores in the Carolinas

Slurpee® drinks, Big Bite® hotdogs, Big Gulp® beverages and other convenient services are on their way to Charlotte.

7-Eleven logoDallas, Texas-based 7-Eleven Inc. has entered into an agreement with Sam’s Mart LLC to acquire 55 Sam’s Mart stores in North and South Carolina and convert them to 7-Eleven® stores this year. The transaction is anticipated to close in February, subject to standard closing conditions and regulatory approvals. Terms of the deal were not disclosed.

7-Eleven plans to return to the greater Charlotte area, where it had operated 7-Eleven stores from 1964 until 1988. The acquisition is part of the world’s largest convenience retailer’s accelerated growth plan. 7-Eleven opened some 650 stores in the U.S. and Canada in 2011.

“Sam’s Mart has a successful store operation and quality locations that fit our strategy to expand where we have existing stores or in areas near markets where we have operations,” said Stan Reynolds, 7-Eleven EVP and CFO. “We will provide the food, beverages and services that 7-Eleven stores are best known for. Consumers will soon see Slurpee and Big Gulp drinks, Big Bite hotdogs and other roller grill items, 7-Eleven coffee and some 300 of our 7-Select private-brand items after we begin the conversion, which gets under way soon.”

In addition to the 7-Eleven product offering, the company will introduce its proprietary retail information system to provide store personnel with leading technology to better serve its customers’ needs. 7-Eleven has offered store personnel employment upon successful background checks and interviews. Local contractors will be hired for the remodeling program to begin later this year.

Sam’s Mart LLC will continue to operate its other 91 stores in the Charlotte and Atlanta metro areas and retain its office personnel.

As the global leader of convenience retailing, 7-Eleven is expanding its business by adding stores through traditional store development, business conversions and acquisitions, the company says.

 

 

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