7-Eleven, Inc. Growth Continues with Two Acquisitions
DALLAS, Oct. 12, 2012 /PRNewswire/ -- 7-Eleven, Inc. announced today two acquisitions, expanding its U.S. store portfolio. The company has closed deals with EZ Energy USA, Inc. to purchase 67 retail locations in the Cleveland, Ohio, and Pittsburgh, Pa., markets and with its licensee, Handee Marts Inc., to acquire 58 7-Eleven convenience stores in those same markets as well as locations in northern West Virginia and western Maryland.
Terms of the deals were not disclosed.
The EZ Energy purchase includes Easy Trip and BP convenience stores and the wholesale fuel-supply business that supports 20 of EZ Energy's dealer-operators. EZ Energy locations offer mostly BP- and Marathon-branded gasoline.
Handee Marts has 38 stores offering gasoline under a variety of brands, including Exxon, Gulf, BP, Valero and Sunoco.
EZ Energy USA, Inc. in Seven Hills, Ohio, operates the Easy Trip stores. Its parent company is EZ Energy Ltd. in Israel. The Handee Marts office is in Gibsonia, Pa.
"These two acquisitions provide 7-Eleven with an excellent opportunity to have a strong presence immediately in both the Cleveland and Pittsburgh areas," said Stan Reynolds, 7-Eleven, Inc.'s executive vice president and CFO. "We also are interested in looking at other locations in these markets to further expand our presence there."
7-Eleven, Inc. will add its proprietary retail information system and technology for enhanced product-ordering capabilities. The retailer's 7-Select private brand and other well-known proprietary products like 7-Eleven coffee, Slurpee® and Big Gulp® drinks, grill products plus standard convenience-store items will be offered. The company will soon offer money orders and accept food stamps.
7-Eleven plans to rebrand EZ Energy's stores starting early 2013.
Last month, 7-Eleven closed a deal with another of its domestic licensees, Prima Marketing, which added 74 locations to 7-Eleven, Inc.'s roster of stores, mostly in West Virginia, but also in Ohio, Pennsylvania and Kentucky. Currently, the company operates and franchises 181 stores in Pennsylvania and 11 in Ohio.
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 approximately 9,500 7-Eleven® stores in North America. Globally, there are some 48,000 7-Eleven stores in 16 countries. During 2011, 7-Eleven stores worldwide generated total sales close to $76.6 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; #3 spot on Entrepreneur magazine's Franchise 500 list for 2012, #3 in Forbes magazine's Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. Hispanic Magazine named 7-Eleven among 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.