TL;DR
7-Eleven, Inc. has completed its acquisition of 3,800 Speedway stores, expanding its presence in the North American market. The acquisition brings 7-Eleven's total North American portfolio to approximately 14,000 stores.
“We are very excited to welcome Speedway into the 7-Eleven family,” said Joe DePinto, President and Chief Executive Officer of 7-Eleven. “Speedway is a great brand and a strong strategic fit for our business that significantly diversifies our presence throughout the North American market, particularly in the Midwest and on the East Coast. Together, we have the opportunity to redefine and enhance the customer convenience experience nationwide. This is a groundbreaking moment in our company’s proud history.”
This acquisition accelerates 7-Eleven’s growth trajectory while also strengthening the company’s financial profile for continued success. The addition of Speedway brings 7-Eleven’s total North American portfolio to approximately 14,000 stores and diversifies 7-Eleven’s presence to 47 of the 50 most populated metro areas in the U.S., as well as expands our company-operated store footprint.
The acquisition combines the best of 7-Eleven’s premier convenience brand with Speedway’s convenience and fuel brands that will create innovative and world-class experiences for our customers. 7-Eleven will also work to maximize efficiencies and optimize relationships with vendors and business partners to ensure a continued legacy of innovation and success.
In this story
This story was originally published in Franchising.com on May 14, 2021. Burnaze summarizes and links to the original reporting.
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