7-Eleven to Purchase 10 McKee Oil Company Convenience Stores

7-Eleven, Inc. today announced that it has signed an agreement to purchase 10 McKee Oil Company convenience stores in the greater Salt Lake City area. This brings to 112 the number of convenience stores that 7-Eleven will operate in northern Utah.

The company said the purchase is part of its strategic growth plan to expand in areas where the company currently operates 7-Eleven® stores.
Terms of the agreement were not disclosed, but 7-Eleven expects to close the deal before the end of 2006.

This is finally a new move by 7-Eleven. I always thought that a bigger chain would buy them out, but I guess I was wrong and they decided to buy other chains out instead. Unfortunately I dont have any stocks of 7-Eleven, but if you do, better take out the champagne bottle as I'm pretty sure you are going to make some money.

News Link