Convenience store giant 7-Eleven has announced plans to buy 183 ExxonMobil stores in Florida.
The acquisition includes a combination of company and dealer-operated sites in Orlando, south-west Florida, Palm Beach and Broward County.
7-Eleven said the majority of the outlets will be rebranded as 7-Eleven stores, but will retain the Mobil gasoline brand, which will allow customers to continue to purchase Mobil-brand fuel and use the ExxonMobil credit card.
“This acquisition fits well with our aggressive growth strategy,” said 7-Eleven vice president of mergers and acquisitions Sean Duffy yesterday (8 December). “This purchase of these ExxonMobil sites adds to the approximately 750 locations that 7-Eleven has acquired or added since 2007 when we ramped up our expansion efforts.”
7-Eleven said rebranding efforts are likely to be completed over a two-year period and that it will offer jobs to the 1,300 ExxonMobil workers affected by the acquisition.
Terms of the deal were not disclosed.