7-Eleven closes deal to purchase 163 Tetco stores
Dallas -- 7-Eleven announced that it has acquired the retail and wholesale dealer assets of San Antonio-based Tetco, closing a deal that was announced Aug. 14.
The assets include 163 company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.
Terms of the deal were not disclosed.
The acquisition signals a return to San Antonio for 7-Eleven, where the company had operated stores until 1989.
Because of the combination of Tetco’s retail and wholesale operations this is 7-Eleven's largest acquisition since the company accelerated its growth plan four years ago. As part of this purchase, 7-Eleven is acquiring Tetco’s motor fuel wholesale-dealer business with some 500 customers. The company plans to retain and build the wholesale gasoline business as an integral part of 7-Eleven's overall growth strategy.