IRVING, Texas — 7-Eleven Inc. has closed on the acquisition of 7-Eleven Stores, which comprises more than 100 independently operated 7-Eleven-branded convenience stores in the Oklahoma City metropolitan area.
The c-stores owned and operated by Oklahoma City-based 7-Eleven Stores were the only independently owned retail outlets that carried the 7-Eleven brand, through a special arrangement between owner William Brown and 7-Eleven Inc. in 1953. The Oklahoma stores were not licensees or franchisees of the national chain; they were totally independent.
"These stores have carried the 7-Eleven name for 67 years, and today they officially join the global 7-Eleven family," said Joe DePinto, president and CEO of Irving, Texas-based 7-Eleven. "We look forward to meeting the needs of Oklahoma customers and offering them the great products and services available in stores across the country."
The acquisition brings the total number of 7-Eleven stores to more than 9,300 in the United States. 7-Eleven Inc. operates more than 70,000 stores in 17 countries.
7-Eleven’s parent company, Tokyo-based Seven & i, is also reportedly in exclusive talks to acquire the Speedway chain of approximately 4,000 c-stores from Findlay, Ohio-based Marathon Petroleum Corp.
- 7-Eleven is No. 1 on the Top 40 update to CSP’s2019 Top 202 ranking of U.S. c-store chains by number of retail outlets. 7-Eleven Stores is No. 61 on the 2019 Top 202 list. CSP will release the complete 2020 list in June.
The 7-Eleven Stores locations differed slightly from the national chain. Most notably, they did not brand their frozen fountain beverages as Slurpee. Instead, they sold the regional chain’s signature Icy Drink. And while they did offer Big Gulp fountain beverages, they did not offer Big Bite foods. The Oklahoma stores also have a proprietary bakery called 7th Heaven.
The stores also had their own loyalty program, Thx, which was not connected to 7-Eleven Inc.’s 7Rewards program.
Raymond James & Associates Inc., St. Petersburg, Fla., served as investment banking adviser to the seller.