TOKYO, Japan, 2015-11-10 — /EPR Retail News/ — 7-Eleven, Inc. (headquarters: Texas, U.S.; President and Chief Executive Officer, Joseph M. DePinto), a subsidiary of Seven & i Holdings Co., Ltd., acquired fuel wholesale business from Biscayne Petroleum, LLC and Everglades Petroleum, LLC The details are provided below:
1. Purpose of an agreement This agreement will contribute to expand higher revenues from convenience store operations in North America through acquisition of a gasoline wholesale business.
2. Overview of the business (1) Area: Florida, U.S. (2) Number of locations: 101 locations of fuel retail and wholesale business
3. Overview of Biscayne Petroleum, LLC and Everglades Petroleum, LLC (1) Name: Biscayne Petroleum, LLC Everglades Petroleum, LLC (2) Representative: CEO and President, Arturo Zizold (3) Location of headquarters: Florida, U.S. (4) Major business activities: Fuel wholesale and retail business
4. Schedule of acquisition Closed date of acquisition: November 9, 2015 (U.S. Central Time )
5. Outlook The agreement will have only a minimal effect on the Company’s consolidated results for the fiscal year ending February 29, 2016, but this asset purchase is expected to contribute to profits over the medium to long-term.
Company name: Seven & i Holdings Co., Ltd. Representative: Noritoshi Murata, President and Representative Director (Code No. 3382/First Section of the Tokyo Stock Exchange)