7-Eleven Closes Purchase of 12 Fast Track Stores in N.C.

Rebranding to be completed by mid-February 2013

Published in CSP Daily News

DALLAS -- 7-Eleven Inc. said that it has completed the previously announced purchase of 12 convenience stores from Fast Track Inc. in Central North Carolina, including Winston-Salem, from J. C. Faw of Wilkesboro, N.C. The companies did not disclose the terms of the agreement.

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The Fast Track stores that are part of the purchase are located in Elkin, King, Lexington, Thomasville, Kernersville, Lewisville, Clemmons, Winston-Salem, Hamptonville, Claremont, Statesville and Union Grove.

The company will begin remodeling these units to transform them into 7-Eleven stores in late November, and it expects to complete the rebranding by mid-February 2013.

These locations are close to another acquisition the company made earlier this year--55 Sam's Marts locations in the greater Charlotte area--and this new deal complements the 7-Eleven stores' expansion in the Tar Heel State.

Customers in these areas can expect new outlets for 7-Eleven's fresh foods delivered daily, hot foods and signature products such as 7-Select private brand, 7-Eleven coffee, Big Bite hot dogs, Slurpee and Big Gulp drinks.

Dallas-based 7-Eleven continues to grow its U.S. business through traditional store development, business conversions and acquisitions. The company plans to open 970 new 7-Eleven locations in the United States and Canada this year.

7-Eleven operates, franchises or licenses approximately 9,400 7-Eleven stores in North America. Globally, there are some 47,600 7-Eleven stores in 16 countries. During 2011, 7-Eleven stores worldwide generated total sales close to $76.6 billion.