US: 7-Eleven snaps up another batch of stores
By Dean Best | 13 November 2012
- 7-Eleven makes another acquisition
- Buys outlets in North Carolina
US c-store retailer 7-Eleven has acquired more stores, this time adding to its business in North Carolina.
7-Eleven said yesterday (12 November) it had bought 12 outlets from Fast Track Inc.
The deal is 7-Eleven's second acquisition in North Carolina this year. In January, it snapped up 55 outlets from local rival Sam's Mart.
The retailer has been very acquisitive this year, with a series of transactions. Last month, for instance, it bought stores across four states - Ohio, Pennsylvania, West Virginia and Maryland.
In August, 7-Eleven made another acquisition in West Virginia, while other deals this year include stores in Texas and South Carolina.
7-Eleven Closes Purchase of 12 Fast Track Stores
Continues Expansion in North Carolina
DALLAS, Nov. 12, 2012 /PRNewswire/ -- 7-Eleven, Inc. announced that it has completed the purchase of 12 stores from Fast Track, Inc. in Central North Carolina, including Winston-Salem. The seller is J. C. Faw of Wilkesboro, N.C. Terms of the agreement are not disclosed.
(Logo: http://photos.prnewswire.com/prnh/20101208/DA14293LOGO)
The Fast Track stores that are part of the purchase are located in Elkin, King, Lexington, Thomasville, Kernersville, Lewisville, Clemmons, Winston-Salem, Hamptonville, Claremont, Statesville and Union Grove.
Remodeling of these units to transform them into 7-Eleven stores gets underway in late November and rebranding is expected to be complete by mid February of 2013.
These locations are in close proximity to another acquisition the company made earlier this year – 55 Sam's Marts locations in the greater Charlotte area -- and compliments the 7-Eleven stores' expansion in the Tar Heel State.
Customers in these areas can expect new outlets for 7-Eleven's fresh foods delivered daily, hot foods and signature products like 7-Select private brand, 7-Eleven coffee, Big Bite® hot dogs, Slurpee® and Big Gulp® drinks.
As the global leader of convenience retailing, 7-Eleven continues to grow its business in the U.S. through traditional store development, business conversions and acquisitions. The company plans to open 970 new 7-Eleven locations in the U.S. and Canada this year.
Original source: 7-Eleven
Sectors: Mergers & acquisitions, Retail
Companies: 7-Eleven
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