• 7-Eleven buys stores in Wisconsin
  • Follows deals in Texas and North Carolina this year
  • Plans to open 630 outlets in 2012

US c-store retailer 7-Eleven has announced its latest acquisition, with a deal to buy 18 Open Pantry stores.

7-Eleven said yesterday (25 June) it has snapped up outlets that are primarily in the greater Milwaukee and Madison markets.

"7-Eleven has set and met very ambitious growth goals the past three years, here in the U.S. and internationally," vice president of mergers & acquisitions Robbie Radant said. "We are on track this year to surpass even those record-breaking years. Last year, 7-Eleven opened more than 600 stores in the US and Canada and is on target to open at least 630 in 2012."

Almost two weeks ago, 7-Eleven said it had bought a clutch of outlets in Texas from retail conglomerate Strasburger.

In January, 7-Eleven acquired 55 stores from local rival Sam's Mart in North Carolina, which saw it return to the city of Charlotte for the first time since 1988.

The retailer also plans to re-enter Jacksonville in Florida and double its 20-store presence in Manhattan in the next year and grow to around 135 units by 2017.

Show the press release

 

7-Eleven, Inc. Closes on Acquisition of 18 Open Pantry Stores

DALLAS, June 25, 2012 /PRNewswire/ -- 7-Eleven, Inc. announced today that it has completed a transaction to acquire 18 Open Pantry convenience store locations in Wisconsin, primarily in the greater Milwaukee and Madison markets. Terms of the deal were not disclosed.

All 18 stores are located approximately in the lower third of the state with the northernmost store in Oshkosh and the southernmost in Kenosha. Four stores are located in Milwaukee city-proper and others in the surrounding communities of Franklin, Brookfield, Delafield, Oak Creek, New Berlin, Sussex, Oconomowoc and Pewaukee. Another three are in Madison.  A few existing Open Pantry locations are not included in the deal.

"7-Eleven has set and met very ambitious growth goals the past three years, here in the U.S. and internationally," said Robbie Radant, 7-Eleven vice president of mergers & acquisitions, "and, we are on track this year to surpass even those record-breaking years. Last year, 7-Eleven opened more than 600 stores in the U.S. and Canada and is on target to open at least 630 in 2012.

"We have several strong markets in the Great Lakes areas and are committed to showing Wisconsin residents why their neighbors are such big fans of 7-Eleven," said Radant. "Over the recent years, our stores have added fresh-baked pastries, sandwiches, green salads, whole and cut fruit, all delivered fresh daily, plus hot foods like pizza, chicken tenders and hot wings."

In addition to the company's popular proprietary Slurpee® and Big Gulp® beverages, each location will carry 7-Eleven® signature and 7-Select products and grill offerings, along with standard convenience-store items.

The acquired sites are all company-owned stores. Fourteen of the 18 stores are retail fuel locations operating primarily under the BP brand.  Each branded-fuel site will continue to accept that oil company's fleet card.

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.      

Job offers will be extended to approximately 190 Open Pantry employees who are affected by this acquisition.

 

Original source: 7-Eleven Inc