USA: 7-Eleven to Buy Sam’s Mart Stores
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Wednesday, 01 February 2012 |
7-Eleven has agreed to acquire 55 Sam's Mart convenience stores in North and South Carolina and convert them to 7-Eleven stores this year as part of the Dallas-based convenience retailer's accelerated growth plan. Terms of the deal were not disclosed but the transaction is expected to close in February, subject to standard closing conditions and regulatory approvals.
“Sam's Mart has a successful store operation and quality locations that fit our strategy to expand where we have existing stores or in areas near markets where we have operations,” said Stan Reynolds (pictured), 7-Eleven Executive Vice President and CFO.
7-Eleven opened about 650 stores in the United States and Canada in 2011 but has not yet announced goals for 2012.
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