7-Eleven, Inc. Announces Agreements to Sell 293 Speedway and 7-Eleven Stores
On May 19, 2021, 7-Eleven announced agreements to sell 293 Speedway and 7-Eleven stores to three buyers, following its acquisition of Speedway from Marathon Petroleum Corp. (NYSE: MPC) on May 14, 2021. The sales are divided among three agreements: 124 sites to Anabi Oil, 63 sites to Jacksons Food Stores, and 106 to CrossAmerica Partners LP. This strategic move continues 7-Eleven's expansion in the convenience retail market while streamlining its operations.
- Strategic divestiture of 293 stores allows 7-Eleven to focus on core operations.
- Acquisition of Speedway enhances overall store offerings and market presence.
- None.
IRVING, Texas, May 19, 2021 /PRNewswire/ -- 7-Eleven, Inc. ("7-Eleven") announced today that it has signed definitive agreements to sell 293 Speedway and 7-Eleven stores to three separate buyers. This follows the completion of 7-Eleven's acquisition of Speedway from Marathon Petroleum Corp. (NYSE: MPC) on May 14, 2021.
On March 15, 2021, 7-Eleven signed a definitive agreement to sell 124 Speedway and 7-Eleven sites in the Midwest, Northeast, Florida and Utah to Anabi Oil, a family-owned and operated business based in Upland, California.
On March 17, 2021, 7-Eleven signed a definitive agreement to sell 63 Speedway sites in California, Arizona and Nevada to Jacksons Food Stores, a nationally recognized chain based in Meridian, Idaho.
On April 28, 2021 7-Eleven signed a definitive agreement to sell 106 Speedway and 7-Eleven sites located in the Mid-Atlantic and Northeast to CrossAmerica Partners LP, a publicly traded limited partnership headquartered in Allentown, Pennsylvania.
About 7-Eleven, Inc.
7–Eleven, Inc. is the premier name in the convenience-retailing industry. Based in Irving, Texas, 7–Eleven operates, franchises and/or licenses nearly 77,000 stores in 16 countries and regions, including nearly 16,000 in North America. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7–Eleven has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef tacos. 7–Eleven offers customers industry-leading private brand products under the 7-Select™ brand including healthy options, decadent treats and everyday favorites at an outstanding value. Customers can earn and redeem points on various items in stores nationwide through its 7Rewards® loyalty program with more than 40 million members, place an order in the 7NOW® delivery app in over 1,300 cities, or rely on 7–Eleven for bill payment service, self-service lockers and other convenient services. Find out more online at www.7–Eleven.com, via the 7Rewards customer loyalty platform on the 7–Eleven mobile app, or on social media at Facebook, Twitter and Instagram.
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SOURCE 7-Eleven, Inc.
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