Convenience store giant 7-Eleven is set to acquire 51 stores in northern Texas from ExxonMobil.
7-Eleven, the US unit of Japanese retailer Seven & I Holdings, said yesterday (16 August) that it has agreed to buy the fuel giant’s retail interests in the greater Dallas/Fort Worth area for an undisclosed sum. The deal is expected to be completed later this year.
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The majority of locations will be rebranded as 7-Eleven stores but the stations will retain the Exxon brand.
Sean Duffy, 7-Eleven vice president of mergers and acquisitions, said: “This acquisition fits well with our aggressive growth strategy. These high-volume locations complement our existing real estate portfolio in the area.”
The deal is the latest transaction between the two companies. In December, 7-Eleven, which operates, franchises or licenses more than 8,800 stores in North America, announced plans to buy 183 ExxonMobil stores in Florida.
Meanwhile, Canadian c-store retailer Couche-Tard also announced yesterday that it had agreed to buy 33 On the Run stores in southern Louisiana from ExxonMobil for an undisclosed sum.
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