IRVING, Texas, and DALLAS -- In what will be its biggest acquisition deal ever,
7-Eleven Inc. has entered into an asset purchase agreement with
Sunoco LP, which is shifting its focus away from retail and toward wholesale fuels distribution. As part of the $3.306 billion deal with Sunoco, 7-Eleven will acquire 1,108 of its convenience stores in 19 geographic regions.
As reported in a
CSP Daily News Flash, 7-Eleven is acquiring the Sunoco locations primarily along the East Coast and in Texas, as well as the associated trademarks and intellectual property of the Stripes c-store brand and the Laredo Taco Company foodservice brand.
7-Eleven, No. 1 on
CSP's Top 202 list of the largest c-store chains in the country, has 8,707 stores in the United States and Canada. This acquisition will bring the total number of 7-Eleven c-stores in the United States and Canada to 9,815.
Sunoco also is selling 207 convenience stores, 182 in west Texas and New Mexico and 25 in Oklahoma and north Texas, in a separate process.
Here's a look at details of the acquisition …