US: 7-Eleven To Acquire More Than 1,100 Outlets From Sunoco

7-Eleven, Inc. has announced a deal to acquire 1,108 convenience stores currently operated by Sunoco across 18 US states.  No financial details of the deal were disclosed.

7-Eleven currently operates just over 8,700 outlets in the US and Canada, and said this deal will one of the biggest-ever in its history.  It added that the acquisition “supports our growth strategy in key geographic areas including Florida, mid-Atlantic states, Northeast states, and Central Texas”.

The sale is part of Sunoco’s strategy to focus on its fuel supply business – the company plans to sell another 200 stores by the end of the fourth quarter.  It said it will use the proceeds primarily to repay some of its $4.51bn of debt. The deal will see Sunoco supply fuel to the stores for 15 years.

The acquisition is expected to be completed in the second half of 2017.

NAM Implications:
  • A 12.5% increase in a convenience estate represents real opportunity…
  • Time to take steps to secure and maintain your fair share…?