Akin Gump Advises 7-Eleven, Inc. as It Completes Acquisition of 1,030 Sunoco Stores
(Dallas) – 7-Eleven, Inc., the premier name and largest chain in the convenience-retailing industry, today announced that it has closed on the acquisition of approximately 1,030 Sunoco convenience stores located in 17 states. This acquisition is the largest in 7-Eleven, Inc. history and will bring the total number of stores to approximately 9,700 in the U.S. and Canada. Akin Gump advised 7-Eleven in the matter.
The acquisition was reviewed by the Federal Trade Commission, which required the divestiture by 7-Eleven of 26 retail fuel outlets to Sunoco. Sunoco was required to retain 33 fuel outlets that 7-Eleven otherwise would have acquired. Sunoco intends to convert the acquired or retained stations from company-operated sites to commission agent sites. It will have full control over fuel pricing and supply at all of these locations.
The deal was first announced in April 2017.
Akin Gump’s Thomas Yang and Matt Zmigrosky, partners in the firm’s corporate practice, led the team advising 7-Eleven. They were joined by corporate partner J. Kenneth Menges Jr., counsel Nicholas Houpt and associates Ashton Butcher and Katie Bailey; antitrust partner Corey Roush, counsel Mollie McGowan Lemberg and associate Deona Kalala; real estate partner John Bain, senior counsel Richard Frank and associate Alex Agahzadeh; oil and gas partner John Goodgame on MLP matters; tax partner Alison Chen and associate Allyson Li; corporate partner Alan Laves for finance work; labor and employment partner Lauren Leyden and associate Jeffrey Wiener; employee benefits partner Rolf Zaiss; environment and natural resources partner David Quigley and senior counsel Andrew Oelz; and intellectual property senior counsel Peter Emmi.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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