Last updated on April 7th, 2017 at 01:22 pm
7-Eleven Inc. has entered into an asset purchase agreement with Sunoco and 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 CEO of Irving, Texas-based 7-Eleven. “It also provides (us) entry into Houston, the fourth largest city in the United States, and a strong presence in Corpus Christi and across South Texas.”
7-Eleven has 8,707 stores in the U.S. and Canada. This acquisition will be one of the largest in the company’s history, and it will bring the chain’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.