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Lucy Puniwai's Blog

By Lucy Puniwai | Agent in 76177

7-11 Buys 51 Exxon Mobil Convenience Stores

Dallas-based 7-Eleven said Tuesday that it will buy 51 North Texas ExxonMobil convenience store/gas station locations, including eight in Tarrant County.

ExxonMobil operates many of the locations under the name On The Run. Terms were not disclosed, but the deal is expected to close later this year, 7-Eleven said. Two of the sites, in Frisco and McKinney, are vacant.

The locations will be rebranded as 7-Eleven stores but will retain the Exxon gasoline brand. Remodeling is expected to be completed by the end of 2012, the retailer said. The stores will honor ExxonMobil credit cards and Speedpass devices.

The stores will be available for franchise opportunities, 7-Eleven said.

"This acquisition fits well with our aggressive growth strategy," said Sean Duffy, 7-Eleven vice president of mergers and acquisitions, in a statement. "These high-volume locations complement our existing real estate portfolio in the Dallas/Fort Worth area."

The locations include 3500 Sycamore School Road, 6001 Camp Bowie Blvd., 101 Sycamore School Road and 6100 S. Hulen St. in Fort Worth; 1975 E. Price St. and 2021 S. Main St. in Keller; 1700 William D. Tate Ave. in Grapevine; and 1606 W. Randol Mill Road in Arlington.

7-Eleven said it will offer jobs to the ExxonMobil employees affected by the deal. 7-Eleven operates and franchises 239 Metroplex stores.



Read more: http://www.star-telegram.com/2011/08/16/3295190/7-eleven-to-buy-51-exxon-stores.html#ixzz1VPde7QzA

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