DALLAS, April 27, 2011 /PRNewswire/ -- 7-Eleven, Inc. has signed an agreement to purchase Wilson Farms, a Buffalo-based convenience store chain with 188 outlets in New York state, with an expected closing in the second quarter. Terms of the deal were not disclosed.
The addition of Wilson Farms significantly increases 7-Eleven's presence in the western New York area. Post closing, 7-Eleven will assume responsibility for all Wilson Farms locations and personnel from the WFI Group, which is led by Bruckmann, Rosser, Sherrill & Co., a private-equity firm, and the Nanula Family, which together have managed the stores since 2005.
"Wilson Farms has a successful store operation, quality locations and a strong customer-service culture," said Stan Reynolds, 7-Eleven executive vice president and CFO. "The combination of the two companies will strengthen our convenience offering in the western New York area."
As the global leader of convenience retailing, 7-Eleven continues to grow its business by adding stores through traditional store development, business conversions and acquisitions.
Sites from ExxonMobil, Inc. in Florida and Illinois, certain Shell sites in Dallas, Quarles Petroleum Inc., Mother Hubbard's Cupboard, Zooms, Inc., New England Pantry, and Little Sue are among the company's most recent acquisitions.
"Consumers can expect to benefit from 7-Eleven's greater concentration of stores in this area, introduction of private brands and other proprietary products," Reynolds said. "Like Wilson Farms, 7-Eleven is committed to bringing customers quality fresh food, good value and friendly service."
7-Eleven will invest in remodeling the stores, adding proprietary beverages, like Big Gulp® fountain and Slurpee® drinks, coffee service and fresh foods. Local contractors will be hired for the remodeling program to begin later this year. Additionally, the company will introduce its proprietary retail information system to the Wilson Farms stores to provide store personnel with leading technology to serve their customers' needs.
BMO Capital Markets acted as exclusive financial advisor to Bruckmann, Rosser, Sherrill & Co. and the Nanula family in the sale of Wilson Farms, Inc. to 7-Eleven, Inc.
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 8,400 7-Eleven® stores in North America. Globally, there are more than 40,500 7-Eleven stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales of more than $62.7 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, #3 among Top 100 Global Franchises by Franchise Direct, among GI Jobs magazine's Top 100 Military-Friendly Employers, #3 in Store Growth by Convenience Store News, #2 in Franchise Times Top 200 Franchise Companies, #6 in AllBusiness AllStar Franchise ranking and #29 among Top 100 Chains in Food Service. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven recently was selected by three diversity publications as a company offering the best career and franchisee opportunities. In addition, Symphony IRI recognized 7-Eleven in its 2009 Shopper-Centric Marketing Innovation program, and 7-Eleven received the 2010 Retailer of the Year from PL Buyer because of the company's private-label brand initiative. The company is franchising its stores in the U.S., and is expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
SOURCE 7-Eleven, Inc.