7-Eleven Inc announced Monday two acquisitions, expanding its U.S. store portfolio. The company has closed deals with EZ Energy USA, Inc to purchase 67 retail locations in the Cleveland, Ohio, and Pittsburgh, Pa, markets and with its licensee, Handee Marts Inc, to acquire 58 7-Eleven convenience stores in those same markets as well as locations in northern West Virginia and western Maryland.
Terms of the deals were not disclosed. 7-Eleven Inc is owned by Japan's Seven & i Holdings Inc.
The EZ Energy purchase includes Easy Trip and BP convenience stores and the wholesale fuel-supply business that supports 20 of EZ Energy's dealer-operators. EZ Energy locations offer mostly BP- and Marathon-branded gasoline.
Handee Marts has 38 stores offering gasoline under a variety of brands, including Exxon, Gulf, BP, Valero and Sunoco.
EZ Energy USA Inc in Seven Hills, Ohio, operates the Easy Trip stores. Its parent company is EZ Energy Ltd in Israel. The Handee Marts office is in Gibsonia, Pa.
"These two acquisitions provide 7-Eleven with an excellent opportunity to have a strong presence immediately in both the Cleveland and Pittsburgh areas," said Stan Reynolds, 7-Eleven, Inc's executive vice president and CFO. "We also are interested in looking at other locations in these markets to further expand our presence there."
7-Eleven Inc will add its proprietary retail information system and technology for enhanced product-ordering capabilities. The retailer's 7-Select private brand and other well-known proprietary products like 7-Eleven coffee, Slurpee(r) and Big Gulp(r) drinks, grill products plus standard convenience-store items will be offered. The company will soon offer money orders and accept food stamps.
7-Eleven plans to rebrand EZ Energy's stores starting early 2013.
Last month, 7-Eleven closed a deal with another of its domestic licensees, Prima Marketing, which added 74 locations to 7-Eleven, Inc's roster of stores, mostly in West Virginia, but also in Ohio, Pennsylvania and Kentucky. Currently, the company operates and franchises 181 stores in Pennsylvania and 11 in Ohio.© Japan Today