7-Eleven Buys 204 Stripes and Laredo Taco Stores, Expands Southwest

Dallas-based convenience store giant 7-Eleven is expanding southwest by acquiring 204 Stripes and Laredo Taco Company stores from Sunoco for $950 million. This comes soon after 7-Eleven's 2018 purchase of over 1,000 convenience stores from Sunoco, including some Stripes locations, for $3.3 billion.

The newly acquired stores blanket West Texas, New Mexico, and Oklahoma - bringing 7-Eleven's total U.S. and Canada store count to over 13,000. "Stripes and Laredo Taco Company have been a great addition to our family of brands since they initially joined us back in 2018," said 7-Eleven CEO Joe DePinto.

The purchase aligns with 7-Eleven's parent company Seven & i Holdings Co.'s goal of increasing proprietary food and beverage sales. Since 2018, 7-Eleven has remodeled Texas stores, integrating Laredo Taco menu items to add more food options. Regulatory approval is still needed to complete the $950 million transaction.

Sunoco said its 2018 sale enabled greater focus on fuel distribution, while the latest divestment further streamlines operations. For 7-Eleven, acquirement of established regional brands like Stripes and Laredo Taco fuels its expansion strategy and increases its southwest presence.

This mutually beneficial deal allows Sunoco to double down on its core business, while likely leading to more remodeled 7-Eleven locations with Laredo Tacos on the menu. It's a win-win for two convenience store giants focusing on their core strengths in a competitive market.