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Mergers & Acquisitions

7-Eleven Acquires 101 Gasoline Retail Sites in Florida

DALLAS -- 7‑Eleven Inc. and its wholly-owned subsidiary, SEI Fuel Services Inc., has purchased 101 gasoline locations in Florida from Biscayne Petroleum LLC and Everglades Petroleum LLC. The acquisition consists of 94 controlled real-estate locations, seven fuel-supply-only contracts and some related assets.

These operations are primarily in the counties of Miami, Dade, Palm Beach and Broward with a few locations in the city of Naples, Fla. The gasoline stations will continue to sell Mobil-branded fuel, and a number of these outlets are currently being considered for rebranding as 7-Eleven convenience stores.

SEI Fuels entered the wholesale fuel business in the fourth quarter of 2012 when 7‑Eleven and SEI Fuels acquired the assets of TETCO Inc. and its affiliates, which ran a Texas-based fuel distribution and convenience retailing business.

Based in Dallas, 7-Eleven Inc. operates, franchises or licenses some 10,700 7-Eleven stores in North America. Globally, there are nearly 57,400 7 Eleven stores in 17 countries.

Matrix provided merger and acquisition advisory services to Biscayne Petroleum LLC and Everglades Petroleum LLC., including valuation advisory, marketing of the company through a customized, confidential, structured sale process and negotiation of the transaction.

Watch for details in CSPnet.com and CSP Daily News.

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