Seven & i Holdings, the Japanese company that operates the 7-Eleven chain of convenience stores, will be buying gas stations and stores from Texas-based Sunoco for approximately $3.3 billion. The deal represents a purchase of approximately 1,100 convenience stores and gas stations throughout Texas and other states. The acquisition is anticipated to close by August 2017.
Sunoco currently operates approximately 1,350 retail fuel sites and convenience stores under the APlus and Stripes brands. The transaction will be 7-Eleven’s largest, when it closes.
The Japanese retailer is aggressively opening stores in Japan and the United States. In the U.S., Seven & i Holdings has been acquiring blocks of stores, including its 2016 acquisition of CST Brands.
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