7-Eleven, Inc. announced today that it has agreed to acquire ExxonMobil’s retail interests in 183 Florida sites. The transaction is anticipated to close early in 2011, subject to standard closing conditions and regulatory approvals. Terms of the deal were not disclosed.
Included in the acquisition is a combination of company- and dealer-operated sites located in Orlando, Southwest Florida, Palm Beach and Broward County. The 183 sites include five unused parcels of land. The majority of locations will be rebranded as 7-Eleven® operations, and all will retain the Mobil gasoline brand, allowing customers to continue to purchase Mobil-brand fuel and use the ExxonMobil credit card.
“This acquisition fits well with our aggressive growth strategy,” said Sean Duffy, 7-Eleven vice president of mergers and acquisitions. “This purchase of these ExxonMobil sites adds to the approximately 750 locations that 7-Eleven has acquired or added since 2007 when we ramped up our expansion efforts.”
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