Seven & i to Acquire Most of Sunoco's Convenience Store, Gasoline Retail Businesses
January 11 2024 - 5:27AM
Dow Jones News
By Ronnie Harui
Seven & i Holdings' U.S. subsidiary will acquire most of
Sunoco's convenience store and gasoline retail businesses for $950
million.
Through this deal, the U.S. subsidiary 7-Eleven, Inc. will
purchase 204 stores in western Texas, New Mexico, and Oklahoma,
which will connect its 7-Eleven and Speedway store network
alongside the interstate highway, the Japanese company said
Thursday.
7-Eleven, Inc. had acquired 1,030 stores under Sunoco's
convenience store and gasoline business in 2018, it added.
The deal is part of Seven & i's medium-term management plan,
which includes pursuing growth in the North American market.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
January 11, 2024 05:12 ET (10:12 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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