Convenience chain 7-Eleven is attending RECon in May armed with plans for some 900 store openings by year-end — toward a total of about 10,000 in the U.S. and Canada.
Looking further into the future, 7-Eleven says it intends to have about 20,000 shops in total by 2027, its 100th anniversary.
Early last year 7-Eleven completed the purchase of 1,030 Sunoco retail assets, its largest acquisition ever. The company also opened about 200 stores as part of its organic growth initiative.
“We’ve achieved great success through our prior organic growth and disciplined acquisitions. We will continue to pursue deals that align with our strategy and long-term growth targets”
Consolidation in the convenience-store industry will help 7-Eleven fulfill its goal, a strategy that involves both boosting the concentration of its shops in established markets and also entering new ones, says Ian Williams, the company's vice president of development and mergers and acquisitions. “We’ve achieved great success through our prior organic growth and disciplined acquisitions,” Williams said. “We will continue to pursue deals that align with our strategy and long-term growth targets.”
By Joe Gose
Contributor, Shopping Centers Today