7-Eleven may be synonymous around the United States for its convenience stores and Slurpees, but the chain’s recent acquisition of a rival may have violated Federal Trade Commission laws, forcing them to sell off some of their new outlets.
According to Fox Business, the corporation recently acquired the Speedway fuel chain from Marathon Petroleum for $21 billion, but the deal was potentially illegal. As a result, the FTC has ordered 7-Eleven to sell over 200 of the outlets.
The deal, struck between Marathon and Japan’s Seven & I Holdings Co Ltd, which owns 7-Eleven, involved 3,800 stores in 36 states. Because of the localized markets for gasoline, it was believed that the acquisition could harm competition in 293 markets across 20 different states.
As a result, 7-Eleven and Marathon are required to divest 124 retail fuel outlets to Anabi Oil (which owns or distributes to Shell, Sinclair Gas and 76), 106 outlets to Cross America Partners (which partners with ExxonMobil, BP, Valero, Chevron, Gulf, Sunoco and Citgo among others) and 63 to Jackson’s Food Stores.
7-Eleven currently has at least 60,000 stores around the world, including more than 9,800 in the United States. The addition of the Speedway locations would bring them to 14,000.
It is unclear if they intend to take locations they acquired and rebrand them as 7-Eleven or if they would keep the Speedway names on the locations.
Extracted in full from: Why 7-Eleven Was Ordered To Sell 200 Locations (ibtimes.com)