7-Eleven is now the sole owner of a 600-plus-unit Mexican restaurant chain.
The convenience-store chain has agreed to pay Sunoco a reported $1 billion for 204 Stripes c-stores and the Laredo Taco Co. fast-food restaurants they host. Neither 7-Eleven nor Sunoco revealed how many of the retail outlets sport a Laredo Taco Co. unit, but the convenience chain said the deal would give it total ownership of both the Stripes and Laredo Taco brands.
Sunoco had sold 7-Eleven most of the Stripes chain—about 1,000 locations—and their onsite Laredo Taco restaurants in 2018.
"Stripes and Laredo Taco Co. have been a great addition to our family of brands since they initially joined us back in 2018," 7-Eleven CEO Joe DePinto said in a statement. "We're excited to welcome the remaining Stripes stores and Laredo Taco Co. restaurants to the family, and we look forward to serving even more customers across