7-Eleven Inc. (Dallas) has entered into an agreement with Sam's Mart LLC to acquire 55 Sam's Mart stores in North and South Carolina. The convenience store chain will convert the locations to 7-Eleven stores this year.
Terms of the deal, which is expected to close this month, were not released. 7-Eleven had operated stores in the area from 1964 until 1988.
"Sam's Mart has a successful store operation and quality locations that fit our strategy to expand where we have existing stores or in areas near markets where we have operations," says Stan Reynolds, 7-Eleven executive vp and cfo. "We will provide the food, beverages and services that 7-Eleven stores are best known for."
Sam's Mart LLC will continue to operate its other 91 stores in the Charlotte and Atlanta metro areas.