7-Eleven Acquires 55 Sam's Mart Stores in the Carolinas

DALLAS, Jan. 27, 2012 /PRNewswire/ -- Slurpee® drinks, Big Bite® hot dogs, Big Gulp® beverages and other convenient services are on their way to Charlotte. 

(Logo: http://photos.prnewswire.com/prnh/20101208/DA14293LOGO)

7-Eleven, Inc. today announced that it has entered into an agreement with Sam's Mart LLC to acquire 55 Sam's Mart stores in North and South Carolina and convert them to 7-Eleven® stores this year.  The transaction is anticipated to close in February, subject to standard closing conditions and regulatory approvals.  Terms of the deal were not disclosed.

7-Eleven plans to return to the greater Charlotte area, where it had operated 7-Eleven stores from 1964 until 1988.  The acquisition is part of the world's largest convenience retailer's accelerated growth plan. 7-Eleven opened some 650 stores in the U.S. and Canada in 2011.

"Sam's Mart has a successful store operation and quality locations that fit our strategy to expand where we have existing stores or in areas near markets where we have operations," said Stan Reynolds, 7-Eleven executive vice president and CFO.  "We will provide the food, beverages and services that 7-Eleven stores are best known for.  Consumers will soon see Slurpee and Big Gulp drinks, Big Bite hot dogs and other roller grill items, 7-Eleven coffee and some 300 of our 7-Select private-brand items after we begin the conversion, which gets underway soon."

In addition to the 7-Eleven product offering, the company will introduce its proprietary retail information system to provide store personnel with leading technology to better serve their customers' needs.  7-Eleven has offered store personnel employment upon successful background checks and interviews.  Local contractors will be hired for the remodeling program to begin later this year. 

Sam's Mart LLC will continue to operate its other 91 stores in the Charlotte and Atlanta metro areas and retain its office personnel.

As the global leader of convenience retailing, 7-Eleven is expanding its business by adding stores through traditional store development, business conversions and acquisitions. 

Sam's Mart was advised by Robert L. Valentine of Trefethen Advisors, LLC.  Legal advice was provided by Garth K. Dunklin of Wishart Norris Henninger & Pittman, P.A.

About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 9,000 7-Eleven® stores in North America. Globally, there are more than 44,300 7-Eleven stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales of more than $62.7 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #4 spot on Entrepreneur magazine's Franchise 500 list for 2009, #3 in Forbes magazine's Top 20 Franchises to Start, #3 among Top 100 Global Franchises by Franchise Direct, among GI Jobs magazine's Top 100 Military-Friendly Employers, #3 in Store Growth by Convenience Store News, #2 in Franchise Times Top 200 Franchise Companies, #6 in AllBusiness AllStar Franchise ranking and #29 among Top 100 Chains in Food Service.  Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven recently was selected by three diversity publications as a company offering the best career and franchisee opportunities. In addition, Symphony IRI recognized 7-Eleven in its 2009 Shopper-Centric Marketing Innovation program, and 7-Eleven received the 2010 Retailer of the Year from PL Buyer because of the company's private-label brand initiative. The company is franchising its stores in the U.S., and is expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.

SOURCE 7-Eleven, Inc.