7-Eleven Acquires 51 ExxonMobil Locations

“We met our goal of opening 650 stores in 2011, and with this acquisition 2012 is off to a great start,” says 7-Eleven spokesperson.

7-Eleven Inc. has completed the transaction with ExxonMobil to acquire retail interests in 51 North Texas sites.

The transaction concluded Jan. 20; terms of the deal were not disclosed. The 51 sites, all of which are in the greater Dallas/Fort Worth area, include two unused parcels of land.  The majority of locations will be rebranded as 7-Eleven stores. The stations will retain the Exxon gasoline brand, allowing consumers to continue to purchase the same high-quality Exxon fuels and use their ExxonMobil credit cards and Speedpass devices.

“This acquisition fits well with our aggressive growth strategy,” said Robbie Radant, 7-Eleven’s new vice president of mergers and acquisitions. “We met our goal of opening 650 stores in 2011, and with this acquisition 2012 is off to a great start.”

7-Eleven will start remodeling and rebranding the locations soon, with the bulk of the work anticipated to be completed by the end of 2012. Each location will carry 7-Eleven signature products, such as Slurpee and Big Gulp beverages, fresh food and grill offerings, along with standard convenience-store items. The stores also will be available for franchise.

“7-Eleven has extended job offers to qualified ExxonMobil employees who are affected by this acquisition, and we welcome them to the 7-Eleven team,” said Radant.

Currently, 7-Eleven, Inc. operates and franchises 340 stores in Texas with 220 in greater DFW. The company has added 12 7-Eleven stores in North Texas since the start of 2011, of which 10 were in the DFW area.

 

 

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