7-Eleven Grows in California and Wyoming Following CST Deal

June 7th, 2016 by Fiedler Group

San Antonio-based CST Brands Inc. announced last month that it would sell its store operations to 7-Eleven, Inc.

The agreement — worth $408 million — includes 76 locations in California and three in Wyoming.

CST is one of the largest independent retailers of motor fuels and convenience merchandise in North America, with more than 2,000 locations in the southerwestern United States, Georgia, Florida, New York, and Eastern Canada.

The 7-Eleven brand operates, franchises, and license more than 10,700 stores in the United States and Canada, with nearly 60,000 locations worldwide.

Kim Lubel, chairman, president and CEO of CST commented, “These have been great performing stores… This is a tremendous opportunity for the right buyer and we look forward to working with 7-Eleven to close this transaction.”

The cash deal is expected to close later this summer.

The agreement with 7-Eleven comes just two months after CST announced it would explore strategic alternatives to enhance stockholder value.

Fiedler Group has a long standing relationship with 7-Eleven — providing design services for both new build and tenant improvement projects — as well as currently serving as one of 7-Eleven’s Regional Core Contractors (RCC).

To learn more about Fiedler Group’s expertise in the convenience market sector, please contact us today!