7-Eleven continues to expand their store footprint with a $21 billion acquisition.
The American convenience giant has entered into an agreement to acquire leading convenience store chain, Speedway, from Marathon Petroleum Corp. As part of the deal, 7-Eleven will acquire approximately 3900 stores located in 35 states for a cash sum of $21 billion.
Following this transaction, 7-Eleven stores will be present in 47 of the top 50 most populated metro areas in the US totalling 14,000 stores across the US and Canada, it is reported that the company looks forward to welcoming members of the Speedway team into the 7-Eleven family and integrating best practices of both companies.
The transaction is subject to customary regulatory approval and closing conditions.
