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.
(Click here for previous CSP Daily News coverage.)
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.