7-Eleven closes deal to purchase 163 Tetco stores
Dallas — 7-Eleven announced that it has acquired the retail and wholesale dealer assets of San Antonio-based Tetco, closing a deal that was announced Aug. 14.
The assets include 163 company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.
Terms of the deal were not disclosed.
The acquisition signals a return to San Antonio for 7-Eleven, where the company had operated stores until 1989.
Because of the combination of Tetco’s retail and wholesale operations this is 7-Eleven’s largest acquisition since the company accelerated its growth plan four years ago. As part of this purchase, 7-Eleven is acquiring Tetco’s motor fuel wholesale-dealer business with some 500 customers. The company plans to retain and build the wholesale gasoline business as an integral part of 7-Eleven’s overall growth strategy.
Supervalu cutting 700 positions at New England subsidiaries
New York — Supervalu Inc. is cutting 700 positions at its Shaw’s and Star Market divisions in New England.
The company said Friday that the job cuts will take place in 169 Shaw’s and Star Market stores.
OfficeMax changes names of U.S. contract business
Naperville, Ill. — OfficeMax Inc. announced that its U.S. contract business will now go to market as OfficeMax Workplace.
The company said the new name reflects its commitment to developing strategic relationships with a wide array of customers including businesses, universities, hospitals, schools and local governments to provide them with tailored solutions specific to the unique needs of their workplace.