Deal includes popular Stripes and Laredo Taco Company locations

  • 7-Eleven acquires 204 stores in West Texas, New Mexico, and Oklahoma for $1 billion
  • Deal includes Stripes convenience stores and Laredo Taco Company restaurants
  • 7-Eleven adds all remaining Stripes and Laredo Taco Company locations
  • Sunoco to use proceeds to reduce debt and pursue growth opportunities
  • Deal expected to close in the first quarter of 2024

Sunoco LP has agreed to sell 204 convenience stores in West Texas, New Mexico, and Oklahoma to 7-Eleven Inc. for approximately $1 billion. The deal encompasses Stripes convenience stores and Laredo Taco Company restaurants, adding all remaining locations that 7-Eleven doesn’t already own. The transaction will join these stores with 7-Eleven’s network of 13,000 Speedway and Stripes convenience stores in the U.S. and Canada. Sunoco plans to use the proceeds to reduce debt and pursue future growth opportunities. The deal is expected to be finalized in the first quarter of 2024.

Public Companies: Sunoco LP (SUN), Zenith Energy (ZENAF)
Private Companies: undefined
Key People: Joe DePinto (Chief Executive of 7-Eleven)

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Factuality Level: 7
Justification: The article provides information about Sunoco LP selling convenience stores to 7-Eleven Inc. for about $1 billion. It mentions the inclusion of Stripes convenience stores and Laredo Taco Company restaurants in the deal. The article also mentions the rise in Sunoco’s stock and the addition of the stores to 7-Eleven’s network. It includes statements from Sunoco and 7-Eleven executives. The article briefly mentions Sunoco’s acquisition of liquid fuel terminals in Ireland. Overall, the article provides factual information about the deal and its implications.

Noise Level: 3
Justification: The article provides a brief summary of the deal between Sunoco LP and 7-Eleven Inc. to sell convenience stores. However, it lacks in-depth analysis, evidence, and actionable insights. The article contains some irrelevant information about Sunoco’s stock and unrelated acquisitions. Overall, it is a short and straightforward news piece without much substance.

Financial Relevance: Yes
Financial Markets Impacted: The sale of convenience stores by Sunoco LP to 7-Eleven Inc. for $1 billion may impact the financial performance of both companies.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to a financial transaction between Sunoco LP and 7-Eleven Inc., which may have implications for their financial performance.

Reported publicly: www.marketwatch.com