7-Eleven Inc. continues to be surprisingly active in the acquisition business after reaching a deal to lease 27 stores in the Dallas-Ft. Worth market from Quik Way Retail Associates LLC. The stores will be rebranded 7-Eleven and will continue to sell gasoline under the Shell brand. Financial details of the transaction were not disclosed.
These locations are part of 88 Shell-branded retail stores Motiva Enterprises LLC (Motiva) of Houston sold to Quik Way. Motiva markets Shell-branded gasoline in the eastern U.S.
"Adding these 27 locations to a strong market like DFW will complement our current operation and add more convenient access for local consumers," said Allen Pack, a division vice president for 7-Eleven. "Over the course of the next several months, we will remodel these stores and add equipment for our signature products, like fresh food and grill items, coffee, Slurpee and Big Gulp beverages."
Initially, the stores will be company-operated and then franchised to qualified business people in the area.
Pack, who is responsible for 878 stores in the five-state area of Texas, Arizona, Nevada, Colorado and Utah, said, the deal gives 7-Eleven 252 stores in the DFW market. The chain operates approximately 7,500 stores in North America.
"These store additions support our goals of growing our operation in key markets and increasing economies of scale to our infrastructure and advertising."