7-Eleven on Tuesday completed the purchase of 1,030 stores in 17 states, including Stripes stores in Texas, from Dallas-based Sunoco for $3.3 billion.
The deal brings 7-Eleven’s U.S. and Canada store count to 9,700 and puts it in the Houston market. 7-Eleven also purchased the Stripes and Laredo Taco Company brands. It’s one of the largest purchases by Irving-based 7-Eleven and gets Sunoco, which said it wants to focus on being a gasoline supplier, mostly out of the retail business.
The deal, which was first proposed in April, closed after 7-Eleven agreed last week to settle Federal Trade Commission charges that its proposed acquisition from Sunoco would violate federal antitrust laws.
The FTC review found 76 areas inside 20 cities mostly in Florida and Texas where competition would be harmed if stores that sell gasoline had the same owner. Few consumers are willing to travel big distances to fill up their vehicles, so neighborhood scrutiny could be as small as a few blocks to a few miles, the FTC said in a statement last week outlining the settlement.
7-Eleven agreed to sell 26 stores to Sonoco and Sonoco had to keep 33 stores that otherwise would have been included in the sale to 7-Eleven.
Stores FTC said 7-Eleven had to sell to Sunoco 4783 E Highway 83 Roma TX 78584 10121 Chester Rd Chester VA 23831 11714 Sunset Hills Rd Reston VA 20190 43974 Pipeline Plz Ashburn VA 20147 20021 Route 19 Cranberry Township, Pa 16066 3957 Saratoga Blvd Corpus Christi TX 78415 11801 Fm 1472 Laredo TX 78045 4706 S Expressway 83 Harlingen TX 78552 9811 Bob Bullock Loop Laredo TX 78041 9101 Mcpherson Rd Laredo TX 78045 300 E Expressway 83 Mercedes TX 78570 2719 E Saunders St Laredo TX 78041 822 W Us Highway 83 San Juan TX 78589 6302 Saratoga Blvd Corpus Christi TX 78414 5602 S Spid Dr Corpus Christi TX 78412 3955 S Spid Dr Corpus Christi TX 78415 1201 Wildcat Dr Portland TX 78374 1600 N Bicentennial Blvd Mcallen TX 78501 1758 Boca Chica Blvd Brownsville TX 78520 745 W Elizabeth St Brownsville TX 78520 865 N Expressway Brownsville TX 78520 6780 W Expressway 83 Harlingen TX 78552 1725 International Blvd Brownsville TX 78520 1900 N Jackson Rd Pharr TX 78577 3105 Sh-35 N Fulton TX 78358 12121 Fm 306 Canyon Lake TX 78133
With those locations and another group of stores in West Texas, Sunoco will still own more than 200 stores, but it will rent them out to independent operators. It will share a commission on gasoline sales as the supplier to those convenience stores, said Sunoco spokeswoman Alyson Gomez.
Stores FTC said Sunoco has to keep: 4710 Williamsburg Road Richmond VA 23231 7100 Hull Street Road Richmond VA 23235 46373 Bartholomew Fair Drive Sterling VA 20164 8384 Colesville Road Silver Spring Md 20910 601 South Highway 35 Rockport TX 78382 4402 N. NaVArro Victoria TX 77904 190 E Eau Gallie Blvd Indian Harbour Beach, FL 32937 5001 S 31St St/Waters Dairy Rd Temple TX 76502 2311 Buckingham Road Fort Myers FL 33905 6988 BeneVA Road Sarasota FL 34238 5100 34Th Street South St Petersburg FL 33711 1390 Garden St Titusville FL 32796 1149 45Th St. West Palm Beach FL 33407 1910 Baltimore Pike Gettysburg Pa 17325 1200 S Atlantic Ave Daytona Beach FL 32118 2530 S Atlantic Ave Daytona Beach FL 32118 2502 E. University Drive Edinburg TX 78539 2002 S. 23Rd Street Harlingen TX 78550 4901 John Stockbauer Drive Victoria TX 77904 4849 Leopard Street Corpus Christi TX 78408 15 Fayette St At I-70 North Belle, Vernon Pa 15012 790 River Street Haverhill Ma 01830 302 N. NaVArro Street Victoria TX 77901 2002 N. NaVArro Street Victoria TX 77901 1901 Sam Houston Drive Victoria TX 77901 113 Noble Avenue Crafton Pa 15205 1200 E. Del Mar BouleVArd Laredo TX 78041 2977 Niagara Falls Blvd Amherst Ny 14228 1 Pidgeon Hill Drive Sterling VA 20165 1606 East Richardson Road Edinburg TX 78541 4101 Agnes Corpus Christi TX 78405 711 Ed Carey Drive Harlingen TX 78550 1402 E. University Edinburg TX 78539
The sale to 7-Eleven includes a 15-year fuel supply agreement for 2 billion gallons of gasoline a year, plus an additional 500 million gallons of committed growth in the future, Sunoco said. Sunoco, which is owned by Dallas-based Energy Transfer Equity, now supplies motor fuels to 9,200 convenience stores, independent dealers, commercial customers and distributors in 30 states.
7-Eleven didn’t respond to a request for comment. It hasn’t said whether it will rebrand the Stripes convenience stores which include Laredo Taco Company branded counters inside locations in Texas, Oklahoma and New Mexico.