7-Eleven's Global Growth Fueled By Acquisitions
Retailer set to pass 50,000-store mark worldwide by this spring
DALLAS -- 7-Eleven Inc. president and CEO Joe DePinto said, "2012 was a tremendous year for us in terms of organic store growth, acquisitions and business conversions. We expect accelerated growth in North America to continue, and we also see many more opportunities for international expansion."
As reported Wednesday in a Raymond James/CSP Daily News Flash, 7-Eleven said that it achieved record store growth in 2012, and it expects the number of 7-Eleven stores worldwide to pass the 50,000-store mark by the end of the first quarter.
Already the world's largest retailer by store count, 7-Eleven added close to 5,000 stores to its worldwide portfolio in 2012.
Last year, the convenience retailer added just under 1,000 new 7-Eleven stores in the United States and Canada. Worldwide, 7-Eleven's international licensees and master franchisees also expanded aggressively, adding approximately 4,000 stores.
At the close of 2012, 7-Eleven operated, franchised and licensed more than 10,000 stores in North America (including Mexico), and more than 39,000 7-Eleven stores were in Europe, Australia and Asia, for a total of approximately 49,500 stores in 16 countries.
During 2011, 7-Eleven stores worldwide generated total sales of nearly $76.6 billion.
Dallas-based 7-Eleven has orchestrated nearly 10 acquisitions in 10 states in just the past two years, snatching up small and midsize chains across the United States with a consolidator's zeal.
More than one-half of its growth in 2011 was through acquisitions in New York, Florida, Illinois, Colorado and the Northwest. It had announced plans to add at least 630 sites in 2012 alone in the United States and Canada, with buys in Ohio, Pennsylvania, West Virginia and Wisconsin helping it reach that record-breaking target.
At a time when the nation talks about fiscal cliffs and economic retrenchment, the country's best-known convenience chain is spending generously to feed an acquisition appetite that is peerless.
To read all the details about 7-Eleven's growth, check out the Jan. 2012 cover feature in CSP magazine.