US c-store giant 7-Eleven has made another acquisition, snapping up stores from licencee Prima Marketing.
7-Eleven yesterday (20 August) announced a deal to buy 74 outlets and two land parcels. It said the “bulk” of the stores were in West Virginia.
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CFO Stan Reynolds said: “This acquisition fits well with our accelerated growth strategy and gives us an opportunity to expand in the West Virginia market, building on our already strong mid-Atlantic presence.”
At present, the retailer runs and franchises 21 stores in West Virginia, 172 in Pennsylvania and ten in Ohio.
7-Eleven has made a series of acquisitions this year. Last month, it announced a deal to buy the retail and wholesale businesses of Tetco to expand its presence in Utah and Texas.
This year, 7-Eleven has also bought another batch of stores in Texas, as well as in North Carolina and South Carolina.
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By GlobalData
