7-Eleven acquires 143 locations in South Texas
Dallas -- 7-Eleven announced Thursday that it has acquired 143 Speedy Stop and Tigermarket retail locations from C. L. Thomas, of Victoria, Texas.
The acquisition, which closed Dec. 31, increases 7-Eleven stores' footprint in San Antonio, where recently the country's largest convenience retailer purchased 25 stores as part of its acquisition from TETCO. It also adds to 7-Eleven's growing fuel wholesale-delivery business because the acquisition includes gasoline distribution to approximately 150 dealer-operated sites.
"We continue to build our presence in a rapidly growing area of the U.S., along the I-35 corridor from north of Dallas/Fort Worth to the Mexican border," said Stan Reynolds, 7-Eleven EVP and CFO. "We expect to grow to more than 700 7-Eleven stores in Texas from last year's 342 with this and other acquisitions we've made in 2012."
The company also said it will remodel and rebrand a significant number of the locations in 2013.