7-Eleven has finalized the purchase of 79 c-stores from CST Brands.
7-Eleven Inc. has announced the finalization of its acquisition of a number of stores from CST Brands Inc.
The previously disclosed agreement stated that 7-Eleven, which has been increasing its merchandise capabilities and expanding its store network in North America, will be purchasing 79 gas stations and convenience stores from CST Brands. All of the stores that are being purchased are located in California and Wyoming.
This agreement is intended to contribute to higher revenues and profits from convenience store operations in the region. Through this acquisition, 7-Eleven aims to further expand the store network and improve convenience in California, where it has existing stores.
The stores are expected to officially change hands in July 2016.
It is projected that this transaction will have only a minimal effect on the 7-Eleven’s consolidated results for the fiscal year ending February 28, 2017, but this asset purchase is expected to contribute to profits over the medium to long-term.