7-Eleven is close to agreeing a deal with distribution firm CL Thomas to acquire some of its convenience stores in Texas, media in the US is reporting. Although it is not clear how many stores Dallas-based 7-Eleven will buy from CL Thomas, with which it has been engaged in long-term discussions, the number is thought to be around 160.
The outlets, branded as Speedy Stop Food Stores, make up the majority of CL Thomas’ convenience business, which is scattered through several states including Texas, New Mexico, Arkansas, Utah and Idaho. 7-Eleven may also acquire the CL Thomas’s Exxon branded fuel service stations, some which it acquired just last year. The company currently controls over 100 Exxon branded stations, some of which it bought in December 2011. It bought the rest back in 2002.
The two have been in talks about which assets 7-Eleven will acquire since last year, before CL Thomas made its second round of Exxon store purchases.
7-Eleven currently operates around 9,400 stores in the US, part of a global network of 47,000, covering 16 countries.
PetrolWorld 03102012
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