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 Sean Duffy, 7-Eleven vice president of mergers and acquisitions. "In terms of store growth, 2011 promises to be 7-Eleven's biggest year since 1986."
After the transaction closes late this year, 7-Eleven will start remodeling and rebranding the locations, 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.
Duffy added, "These high-volume locations complement our existing real estate portfolio in the Dallas/Fort Worth area. The combination of the 7-Eleven and Exxon brands will make a compelling retail option for convenience-oriented consumers."
7-Eleven will extend job offers to ExxonMobil employees who are affected by this acquisition upon successful completion of their pre-employment screening process and continued satisfactory performance.
Currently, 7-Eleven, Inc. operates and franchises 339 stores in the greater DFW and Austin areas of Texas (239 are in DFW). The company has added seven 7-Eleven stores in these areas since the start of 2011.
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 8,800 7-Eleven® stores in North America. Globally, there are at least 42,700 7-Eleven stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales close to $63 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #4 spot on Entrepreneur magazine's Franchise 500 list for 2009, #3 in Forbes magazine's Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year honor from PL Buyer because of the company's private-label brand initiative. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
SOURCE 7-Eleven, Inc.