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DALLAS -- As part of a larger acquisition where Quik Way Retail Associates II LLC, based here, acquired 88 Shell-branded retail stores from Motiva Enterprises LLC, Quik Way closed on agreements to lease 27 of the locations to 7-Eleven Inc., and subsequently rebrand the stores to 7-Eleven, according to 7-Eleven.
The rebranding initiative was announced late Friday, the same day the purchase of the Motiva sites was announced.
The 27 stores leased to 7-Eleven are located in the Dallas-Fort Worth (DFW) area and will continue to sell gasoline under the Shell banner, the company stated. Financial details of the transaction were not disclosed.
"Adding these 27 locations to a strong market like DFW will complement our current operation and add more convenient access for local consumers," Allen Pack, division vice president for 7-Eleven, said in a statement. "Over the next several months, we will remodel these stores and add equipment for our signature products, like fresh food and grill items, coffee, Slurpee and Big Gulp beverages."
Initially the 27 stores will be company-operated, then franchised to qualified businesses in the area, according to the company. The agreement brings the number of 7-Eleven operated and franchised stores in the Metroplex area to 252, the company stated.
"These store additions support our goals of growing our operation in key markets and increasing economies of scale to our infrastructure and advertising," said Pack, who is responsible for 878 7-Eleven stores in Texas, Arizona, Nevada, Colorado and Utah.