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USA: Seven & I Holdings Acquires Sunoco C-stores for us$3.3bn

USA: Seven & I Holdings Acquires Sunoco C-stores for us$3.3bn

 7‑Eleven will acquire approximately 1,108 convenience stores located in 18 states as per the contract. 

Seven & i, which operates the 7-Eleven network of convenience stores, has been aggressively opening stores in Japan and the United States. In a statement, the firm said U.S. unit 7-Eleven would acquire about 1,108 convenience stores and fuel service stations in Texas and other states from Sunoco. It said it expects to carry out the acquisition in August.

Sunoco currently operates about 1,350 retail fuel sites and convenience stores under brands such as APlus and Stripes, the firm's website showed.The deal would be the biggest by 7-Eleven Inc. Most recently, 7-Eleven acquired 79 stores in California and Wyoming from CST Brands in July last year.

Seven & i has about 19,400 7-Eleven stores in Japan and 8,700 in the United States and Canada, including those run by franchisees. 7-Eleven Inc has said it aims to increase its number of stores to 10,000 over the three years through 2019. PW070417

 

Last modified onFriday, 14 July 2017 08:32
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