SVNDY Seven and I Holdings Company Ltd (PK)

By Ronnie Harui

Seven & i Holdings' U.S. subsidiary will acquire most of Sunoco's convenience store and gasoline retail businesses for $950 million.

Through this deal, the U.S. subsidiary 7-Eleven, Inc. will purchase 204 stores in western Texas, New Mexico, and Oklahoma, which will connect its 7-Eleven and Speedway store network alongside the interstate highway, the Japanese company said Thursday.

7-Eleven, Inc. had acquired 1,030 stores under Sunoco's convenience store and gasoline business in 2018, it added.

The deal is part of Seven & i's medium-term management plan, which includes pursuing growth in the North American market.

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

January 11, 2024 05:12 ET (10:12 GMT)

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