DALLAS -- 7-Eleven Inc. has acquired retail interests in 51 Texas ExxonMobil sites. The convenience store retailer did not disclose terms of the deal, which closed today.
All of the purchased sites are located in the greater Dallas/Fort Worth area. Two include unused parcels of land, and the majority will be rebranded as 7-Eleven stores, according to the company. They will retain the Exxon gasoline brand and continue to allow customers to use their ExxonMobil credit cards and Speedpass devices.
"This acquisition fits well with our aggressive growth strategy," said Robbie Radant, vice president of mergers and acquisitions for 7-Eleven. "We met our goal of opening 650 stores in 2011, and with this acquisition, 2012 is off to a great start."
Remodeling and rebranding will begin soon, with most of the work expected to be completed by the end of this year. The acquired locations will carry 7-Eleven signature products, such as Slurpee and Big Gulp, fresh food and grill choices, and standard convenience store items. They will also be available for franchise, according to the announcement.
"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," added Radant.
7-Eleven operates and franchises 340 stores in Texas, 220 of which are in the Dallas/Fort Worth region.