Deals
Seven & i Adds to US Expansion With $950 Million Sunoco Purchase
- Japanese convenience-store operator to buy 204 Sunoco outlets
- Purchase adds to growing US presence as home market stalls
A Sunoco LP gas station in Montgomery, Alabama, US.
Photographer: Matt Odom/BloombergThis article is for subscribers only.
Seven & i Holdings Co. said it agreed to pay $950 million to buy the Sunoco LP gas stations and convenience stores in the US it doesn’t already own as it seeks to boost growth abroad.
The Japanese 7-Eleven convenience-store operator will buy Sunoco’s remaining 204 stores located in the western part of Texas, New Mexico and Oklahoma, it said in a statement Thursday. It adds to its purchase of 1,030 of outlets for $3.3 billion in 2018.