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7-Eleven Inc. said April 16 it completed the purchase of 204 stores from Sunoco LP — it now owns all Stripe convenience stores and Laredo Taco Company restaurants in the country.
The stores are spread across West Texas, New Mexico and Oklahoma. The completion of the deal, which was first announced in January, means Irving-based 7-Eleven now has more than 13,200 locations, including franchises, across the United States and Canada.
Japan-based Seven & I Holdings Co. Ltd., owner of 7-Eleven, disclosed in a securities filing that the purchase price was 145,787 million yen — about $950 million at an April 15 exchange rate.
7-Eleven first purchased more than 1,000 Sunoco convenience stores in 2018, a deal that "provided ... a valuable brand to grow our restaurant offering," 7-Eleven CEO Joe DePinto stated.
Now, the company is "excited to welcome the remaining Stripes stores and Laredo Taco Company restaurants to the family," DePinto said.
At the time of the 2018 purchase, 7-Eleven into a 15-year deal to get fuel from Sunoco, according to Convenience Store News.
Dallas-based Sunoco, meanwhile, is in the midst of trying to buy San Antonio-based NuStar Energy LP in a roughly $7.3 billion deal. That deal is expected to close in the second quarter.
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