Seven & I-owned convenience chain 7-Eleven is expanding its network of stores by acquiring 51 ExxonMobil Corp stores in Dallas, Texas. Financial terms of the deal are not available, though the transaction is expected to close towards the year end.
Under the conditions of the pending deal, the stores will continue to sell Exxon fuel and 7-Eleven will own and operate the accompanying retail stores. 7-Eleven also plans to offer jobs to the ExxonMobil workers employed in these locations.
7-Eleven vice-president of mergers and acquisitions Sean Duffy said: “This acquisition fits well with our aggressive growth strategy.”