7-Eleven, Inc. Closes on Acquisition of 18 Open Pantry Stores
DALLAS, June 25, 2012 /PRNewswire/ -- 7-Eleven, Inc. announced today that it has completed a transaction to acquire 18 Open Pantry convenience store locations in Wisconsin, primarily in the greater Milwaukee and Madison markets. Terms of the deal were not disclosed.
All 18 stores are located approximately in the lower third of the state with the northernmost store in Oshkosh and the southernmost in Kenosha. Four stores are located in Milwaukee city-proper and others in the surrounding communities of Franklin, Brookfield, Delafield, Oak Creek, New Berlin, Sussex, Oconomowoc and Pewaukee. Another three are in Madison. A few existing Open Pantry locations are not included in the deal.
"7-Eleven has set and met very ambitious growth goals the past three years, here in the U.S. and internationally," said Robbie Radant, 7-Eleven vice president of mergers & acquisitions, "and, we are on track this year to surpass even those record-breaking years. Last year, 7-Eleven opened more than 600 stores in the U.S. and Canada and is on target to open at least 630 in 2012."
"We have several strong markets in the Great Lakes areas and are committed to showing Wisconsin residents why their neighbors are such big fans of 7-Eleven," said Radant. "Over the recent years, our stores have added fresh-baked pastries, sandwiches, green salads, whole and cut fruit, all delivered fresh daily, plus hot foods like pizza, chicken tenders and hot wings."
In addition to the company's popular proprietary Slurpee® and Big Gulp® beverages, each location will carry 7-Eleven® signature and 7-Select products and grill offerings, along with standard convenience-store items.
The acquired sites are all company-owned stores. Fourteen of the 18 stores are retail fuel locations operating primarily under the BP brand. Each branded-fuel site will continue to accept that oil company's fleet card.
7-Eleven will start remodeling and rebranding the locations soon, with the bulk of the work anticipated to be completed by the end of 2012.
Job offers will be extended to approximately 190 Open Pantry employees who are affected by this acquisition.
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses approximately 9,300 7-Eleven® stores in North America. Globally, there are more than 46,800 7-Eleven stores in 16 countries. During 2011, 7-Eleven stores worldwide generated total sales close to $76.6 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #3 spot on Entrepreneur magazine's Franchise 500 list for 2012, #3 in Forbes magazine's Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. Hispanic Magazine named 7-Eleven among its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year honor from PL Buyer because of the company's private-label brand initiative. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
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