Dallas (Aug. 14, 2012) – 7-Eleven , Inc. today announced that it has signed an agreement to acquire the retail and wholesale assets of San Antonio-based TETCO, Inc. The assets include company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas plus fuel distribution to TETCO’s wholesale-distributors.
Terms of the deal were not disclosed, and closing is expected in November.
The acquisition also signals a return to San Antonio for7-Eleven , where the company had operated stores until 1989.
“The combination of TETCO’s retail and wholesale operations will make this7-Eleven’s largest acquisition since the company accelerated its growth plan four years ago,” said Stan Reynolds, 7-Eleven executive vice president and CFO. “The assets we are purchasing are quality sites that complement our existing store operation along the I-35 corridor. Plus, we are fortunate to work with seasoned convenience- and fuel-business people that are joining us from TETCO.”
As part of this purchase, 7- Eleven will acquire TETCO’s motor fuel wholesale business with some 550 customers. “We fully expect to retain and build this wholesale business, as an integral part of our overall growth strategy,” added Reynold's.
Read More
Join Our Team
Terms of the deal were not disclosed, and closing is expected in November.
The acquisition also signals a return to San Antonio for
“The combination of TETCO’s retail and wholesale operations will make this
As part of this purchase, 7- Eleven will acquire TETCO’s motor fuel wholesale business with some 550 customers. “We fully expect to retain and build this wholesale business, as an integral part of our overall growth strategy,” added Reynold's.
Read More
Join Our Team
EOE/M/F/D/V
APPLY ONLINE! http://Careers.7-Eleven.com
