This transaction adds to the 150 c-stores 7-Eleven has in the greater Boston and southern New Hampshire area.
7-Eleven has made job offers to employees working at the stores and most non-store personnel of Tedeschi Food Shops, formerly owned by the Tedeschi family.
“The Tedeschi Food Shops stores complement our 7-Eleven store operations in the greater Boston area because of their geographical locations, foodservice focus, community-involved franchisees and commitment to serving their neighborhoods,” said Stan Reynolds, 7-Eleven’s chief financial officer and executive vice president.
This acquisition is part of the international convenience-store retailer’s accelerated growth plan, it said.
A rebranding of the Tedeschi locations to 7-Eleven "will be very gradual," a 7-Eleven spokesperson told The Boston Business Journal. For now, the stores continue to operate as Tedeschi Food Shops. But 7-Eleven will remodel and rebrand several stores later this year, the spokesperson said.
A regional name since 1923 when Angelo Tedeschi opened a shop in Rockland, Tedeschi Food Shops are convenience stores that function as small grocery stores, supplying fill-in grocery items and merchandise to urban residents in lieu of traditional grocery stores, according to CSPedia.
With more than $600 million in annual revenue, the shops offer a family of proprietary brands including TD's Deli and Tedeschi Fresh Foods, Tedeschi Select and Tedeschi Fuel. Fuel is a small part of this chain's business, sold at only a dozen or so of the sites.
Dallas-based 7-Eleven operates, franchises or licenses some 10,500 7-Eleven convenience stores in North America. Globally, there are more than 56,600 7-Eleven c-stores in 16 countries.