USA: 7-Eleven Finalises EZ Energy and Handee Marts Purchases
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Tuesday, 16 October 2012 |
7-Eleven has announced that it has recently finalised two acquisitions that it says will increase its portfolio in several areas across the United States. The company acquired 67 stores from EZ Energy USA, which does business in Cleveland and Pittsburgh, and 58 from Handee Marts, which are located in West Virginia and Maryland.
“These two acquisitions provide 7-Eleven with an excellent opportunity to have a strong presence immediately in both the Cleveland and Pittsburgh areas. We are also interested in looking at other locations in these markets to further our presence there,” said Stan Reynolds, executive vice president at 7-Eleven.
The deal comes two months after the retailer, which also does business through Southeast Asia, acquired Prima Marketing, a 7-Eleven licensee with 74 stores.
Several of the EZ Energy stores operate on contracts to supply BP petroleum, while Handee Stores offer a variety of brands including Exxon, BP, Gulf and Valero. Financial details of the transactions were not disclosed.
PetrolWorld 16102012
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