US convenience retailer 7-Eleven announced completion today of its deal with ExxonMobil to acquire retail interests in 51 sites in North Texas.
The sites are all in the greater Dallas/Fort Worth area and include two unused parcels of land.
The majority of locations will be rebranded as 7-Eleven stores, although they will retain the Exxon gasoline brand.
"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 will also 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.
7-Eleven is already the largest chain in the convenience retailing industry. Based in Dallas, Texas, it operates, franchises or licenses more than 9,100 7-Eleven stores in North America.
The company's first convenience outlets were known as Tote'm stores. In 1946, Tote'm became 7-Eleven to reflect the stores' new, extended hours - 7am to 11pm, seven days a week.
