Among the unknowns in 7-Eleven’s acquisition of the selected Sunoco c-stores is the fate of Stripes’ popular Laredo Taco Company brand of Mexican cuisine, offered at approximately 450 locations.
7-Eleven acquired the trademarks and intellectual property of the Stripes c-store brand and the Laredo foodservice brand along with the acquired Sunoco outlets.
In a process separate from the 7-Eleven transaction, Sunoco also is selling 207 convenience stores, 182 in west Texas and New Mexico and 25 in Oklahoma and north Texas. The Stripes brand is divided between the two deals, with some stores going to 7-Eleven and some stores among those to be sold separately, Sunoco spokesperson Alyson Gomez told CSP Daily News.
Sunoco gained access to Laredo through its $1.9 million purchase in 2015 of Susser Holdings Corp., Corpus Christi, Texas. It has been expanding Laredo beyond its traditional Texas boundaries, including Tennessee and Pennsylvania.
Sunoco is “attempting to determine … what the demand is going to be in smaller footprint locations up and down the East Coast,” CEO Bob Owens said at the time.
7-Eleven will have to make a similar evaluation. Will the retailer, which is looking to translate its Japanese foodservice successes to America, keep and possibly expand Laredo, adapt it or retire it? Or will it be a combination platter?
- Click here to read the first part of this report, Why Sunoco Is Selling.