7-Eleven to acquire TETCO stores and wholesale fuel business

7-Eleven Inc. signed an agreement to acquire the retail and wholesale assets of TETCO Inc., marking 7-Eleven’s return to the San Antonio market after 23 years. The Dallas-based retailer said the deal includes San Antonio-based TETCO’s company-operated stores in Dallas-Fort Worth, Austin, San Antonio and Utah, as well as fuel distribution to wholesale distributors

The companies haven’t determined the final number of stores in the deal, but TETCO owns more than 200 stores in Texas and Utah. More than 60 of the stores are in the DFW area. “The combination of TETCO’s retail and wholesale operations will make this 7-Eleven’s largest acquisition since the company accelerated its growth plan four years ago,” 7-Eleven executive vice president and CFO Stan Reynolds said in a statement.

TETCO’s motor fuel wholesale business has roughly 550 customers. 7-Eleven plans to remodel and rebrand most of the stores.

7-Eleven built or acquired about 600 U.S. and Canadian stores in 2011 and plans to add 630 stores in 2012. The company was also recently named one of the fastest growing retailers in the country.