USA: 7-Eleven to expand gas station and c-store network
Seven & I Holdings Co. plans to expands its number of 7-Eleven sites in the United States to support the restructure of its Japan business and to fend off domestic competition.
The expansion move was illustrated last month by the acquisition of 79 gas stations and convenience stores in California and Wyoming from CST Brands Inc., reports Bloomberg. The agreement between 7-Eleven and CST Brands will be closed next month with the price remaining undisclosed.
Seven & I, Japanese parent company of 7-Eleven, appointed Ryuichi Isaka as its new president last May 26. Isaka plans to further expand the retailer´s network across the globe, with the U.S. being a key market for the company as competition grows in Japan.
In an interview last month, new president Isaka said he wanted to boost the number of 7-Eleven convenience stores in the U.S. and increase its 6% market share.
