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7-Eleven to Buy Sunoco Shops in Record $3.3 Billion U.S. Bet

  • Deal to add 1,108 gas retailers and U.S. convenience stores
  • Acquisition will improve profitability, Japan-based chain says
An employee is seen working behind the logo of Seven & I Holdings Co. at a 7-Eleven convenience store in Tokyo, Japan, on Thursday, April 3, 2014. Seven & I forecasted a 4.7 percent increase in profit this fiscal year.
Photographer: Tomohiro Ohsumi/Bloomberg
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Seven & i Holdings Co. agreed to pay $3.3 billion for some Sunoco LP shops and gasoline retailers in an ambitious push by the 7-Eleven convenience chain owner to expand its U.S. footprint with its largest deal on record.

The purchase by the Japanese retailer’s 7-Eleven Inc. unit will add 1,108 gas stations and convenience stores in Texas state and across the eastern U.S., the Japan-based parent said Thursday in a statement. Sunoco’s retail business includes more than 1,300 stores and reported operating income of $103 million last year on revenue of $7.7 billion.