Two North Texas companies have wrapped up a nearly billion-dollar deal.
Irving-based 7-Eleven announced it has successfully completed its acquisition of 204 stores from Dallas-based Sunoco LP, including Stripes convenience stores and Laredo Taco Company restaurants. First announced in January, the acquisition cost 7-Eleven “approximately $1 billion,” according to Sunoco.
The stores—which are located across West Texas, New Mexico, and Oklahoma—now join the more than 13,000 7-Eleven, Speedway, and Stripes locations that 7-Eleven operates, franchises and/or licenses across both the U.S. and Canada.
“Stripes and Laredo Taco Company have been a great addition to our family of brands since they first joined us back in 2018. That deal provided us a valuable brand to grow our restaurant offering,” 7-Eleven CEO Joe DePinto said in a statement.
With the deal now closed, every Stripes and Laredo Taco Company across the U.S. is owned and operated by 7-Eleven, the company noted.
“We’re excited to welcome the remaining Stripes stores and Laredo Taco Company restaurants to the family, and we look forward to serving customers across West Texas, New Mexico, and Oklahoma,” DePinto said.
Sunoco made a $181M acquisition of its own last month
Sunoco announced acquisition news of its own today, saying that on March 13, it completed the purchase of 100% of the equity interest in Zenith Energy Netherlands Amsterdam B.V. for around $181 million.
The Amsterdam terminal “occupies a strategic position within the Port of Amsterdam, a pivotal hub for global energy trading and a critical component of Europe’s energy market,” Sunoco noted, adding that “The Bantry Bay terminal is Ireland’s premier independent bulk liquids storage facility supporting the nation’s strategic oil reserves. This acquisition creates supply chain efficiencies for the partnership’s U.S. East Coast operations and aligns with an ongoing commitment to add stable midstream income.”
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R E A D N E X T
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Sunoco, which relocated from Philadelphia to Dallas in 2016, said the acquisition will increase stability by diversifying its business, adding scale, and capturing benefits of vertical integration by combining two stable businesses.
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