Sunoco to sell 1,110 U.S. stores to 7-Eleven

[shanneba]

And Sunoco just became Top Tier

https://finance.yahoo.com/news/sunoco-sell-1-110-u-173015619.html

Sunoco LP said on Thursday it would sell 1,110 convenience stores to Japan's Seven & i Holdings Co for $3.3 billion as the Texas-based company shifts its focus to its fuel supply business.

As part of the deal, the U.S. company will also supply about 2.2 billion gallons of fuel annually for 15 years to a unit of the operator of 7-Eleven chain of convenience stores.

 

[Joe1]

My area is saturated with 7 11 stores and a solid amount of Sunoco A plus stores. A relatively small pct of 7 11 stores sell fuel here. I prefer Wawa and quick check.

 

[JHZR2]

Originally Posted By: Joe1
My area is saturated with 7 11 stores and a solid amount of Sunoco A plus stores. A relatively small pct of 7 11 stores sell fuel here. I prefer Wawa and quick check.


I prefer those too. Royal Farms in MD is also good. 7-11 was coupled with Citgo around here IIRC, at least last Iooked.

 

[Donald]

7-11 stores around me are dated and smell like Pine-Sol cleaner.

 

[Donald]

I like Cumbies myself especially the newer stores.

 

[Kira]

This has been in the works for a while as I remember Sunoco announcing they were leaving the retail business about 2 years ago.

The next thing I knew I saw Sunocos refurbishing their store/stations with new buildings and tanks.

I suppose they were making improvements to their capital before selling or as a condition of sale.

ODD NOTRE: In a town near me an old gas station (20 years out of retailing fuel, being used as storage) was finally torn down to build a 7-11.

In the same town, another larger 7-11 was built on the footprint of an old cleaner shop.

It's good to see the Japanese taking over again. BRING BACK THE LATE 70's. Kira

 

[Donald]

Well Hess left the retail market a few years ago. The profit is around a dime a gallon. And you need lots of equipment and liability to sell gas. To sell a cup of coffee for $1.00 you have a lot less investment and similar profit.

Gas makes them stop, but the money is in the coffee, soda and muffins.

 

[Andrew1972]

I only buy gas at pump and leave. I could care less who or what owns it.

Some immigrants locally though independently own stations and the food (Indian, Middle Eastern) is incredible though.

 

[RichardS]

I loved 7-11 in Florida a decade ago. They hadn't been franchised, and you were guaranteed a clean bathroom and grill items that hadn't been rolling around for 8 hours.

They're far more hit or miss now. Sort of sad, visiting the one I had my first job at (in 2007-2008), and seeing all the changes in the overall care of the facility.

I'd welcome a 7-11 Sunoco, hopefully top tier fuel that's competing with Cumberland Farms price point.