7-Eleven Inc. has closed on the acquisition of 46 locations from CB Mart Inc.
The acquisition increases 7-Eleven’s store count in the Carolinas to more than 100 and follows the acquisition of 55 Sam’s Mart and 13 Fast Track stores that closed in 2012. Terms of the deal were not disclosed.
“7-Eleven is committed to building its presence in the Carolinas and bringing our proprietary products to the acquired Hickory Point and Palms locations as the stores are converted to the 7-Eleven brand,” said Stan Reynolds, 7-Eleven executive vice president and CFO.
Besides favorites like Slurpee and Big Gulp drinks, coffee and Big Bite hot dogs, consumers eventually will see 7-Eleven stores’ proprietary foods like hot pizza, chicken wings and tenders, mini-tacos, fresh-made- sandwiches and salads, fresh baked goods and hundreds of 7-Eleven’s award-winning 7-Select private-brand items as store conversions get underway.
7-Eleven has offered employment to existing store personnel. We will also eventually provide business opportunities to local entrepreneurs who would like to operate a 7-Eleven franchise.
The acquisition is part of the world’s largest convenience retailer’s accelerated growth plan. 7-Eleven opened or acquired more than 1,000 stores in the U.S. and Canada in 2012 and added almost 4,900 worldwide.
CB Mart Inc. was advised by Robert L. Valentine of Trefethen Advisors LLC. Marvin Quattlebaum and Frank Williams of Smith Moore Leatherwood LLP served as legal counsel to CB Mart, Inc. for this transaction.