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7-Eleven to acquire Massachusetts chain
7-Eleven said Monday it has agreed to acquire approximately 182 locations in the Greater Boston area and New Hampshire from Tedeschi Food Shops, Rockland, Mass.
May 18, 2015
1 Min Read
7-Eleven said Monday it has agreed to acquire approximately 182 locations in the Greater Boston area and New Hampshire from Tedeschi Food Shops, Rockland, Mass.
The Dallas-based company said the deal is scheduled to close in about six weeks. Terms of the deal were not disclosed.
“Tedeschi is a respected brand [whose] high-volume, high-performing locations complement our existing real-estate portfolio in the area," said Stan Reynolds, 7-Eleven EVP and CFO.
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“This acquisition fits in perfectly with 7-Eleven’s growth strategy. This move was made possible by 7-Eleven reinvesting the return from previous successful acquisitions to continue its growth.”
The company said it expects to offer jobs to most Tedeschi employees upon completion of a pre-employment screening process.
7-Eleven operates and franchises 164 stores in the Greater Boston area and New Hampshire.
