7-Eleven, Inc. has acquired New England Pantry, a company that operates 58 convenience stores under the White Hen Pantry brand, from affiliates of Sanders Morris Harris Group Inc., a Houston-based wealth management firm.
Financial terms of the transaction were not disclosed. The acquisition significantly expands 7-Eleven’s presence in the greater Boston area, bringing the number of outlets 7-Eleven operates and franchises to more than 170.
“This acquisition significantly strengthens our convenience offering in greater Boston,” said Bob Cozens, vice president for 7-Eleven’s Northeast Division. “White Hen Pantry has a 40-year history of providing good customer service and high-quality products to consumers in the Boston area and we want to continue that tradition.”
Andy Brothers, who has served as the New England White Hen Pantry stores CEO, has joined 7-Eleven’s management team and will support the transition.
“The acquisition of New England Pantry by 7-Eleven will provide our customers, franchisees and employees with additional opportunities by joining the leading convenience retailer’s store network,” Brothers said. “Franchises will be able to capitalize on 7-Eleven’s brand strength, extended line-up of proprietary and private label products, and proven business system.” Brothers and the New England Pantry management team will continue to work out of their Norwood, Mass., office.
The company anticipates that stores operating under the White Hen Pantry brand will begin converting to stores to the 7-Eleven brand in 2010.