7-Eleven previously purchased 1,000 U.S.-based convenience stores and gas stations from Sunoco for $3.3 billion two years ago. Partly helped by the Sunoco acquisition, 7-Eleven parent company Seven & I’s revenue in North America has grown 50% in the last four fiscal years, while that in Japan has fallen 8%.
According to business insiders, 7-Eleven is set to gain $3 billion of tax benefits and $5 billion of net sale leaseback proceeds. It also hopes to generate $475 million to $575 million of synergies a year, according to The Wall Street Journal. 7-Eleven’s large store network will help move toward achieving that goal, though managing such large-scale cost savings won’t be straightforward. Leveraging on its convenience store expertise, it hopes to sell more goods, which earn higher margins than gasoline, to drivers who have to stop by to fill up their tanks.