7-Eleven Closes Open Pantry Deal
Takes over 18-store Wisconsin chain
DALLAS -- 7-Eleven’s presence in the Milwaukee and Madison markets grew nicely with the closing of its acquisition of the 18-store Open Pantry convenience-store chain this week. The move is part of an aggressive growth strategy the Dallas-based retail giant has launched to stretch its footprint across the Lower 48.
"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.”
After opening more than 600 stores last year in the U.S. and Canada, the company is on target to open at least 630 in 2012 through acquisitions and ground-ups.
Speaking specifically of the Open Pantry purchase, Radant said, "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. 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."
The 18 former Open Pantry 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 and others in the surrounding communities of Franklin, Brookfield, Delafield, Oak Creek, New Berlin, Sussex, Oconomowoc and Pewaukee. Another three are in Madison. The sites were all company-owned, with 14 also retailing fuel primarily under the BP brand. Each branded-fuel site will continue to accept that oil company's fleet card. A few existing Open Pantry locations are not included in the deal.
Terms of the deal were not disclosed. 7-Eleven will begin remodeling and rebranding the locations, with the bulk of work expected to be completed by year end.