7-Eleven Completes Decade-Long Stripes Acquisition

A familiar sight on Southwest street corners is steadily changing, though many customers might not even realize it. 7-Eleven has quietly completed its full absorption of the regional Stripes convenience store chain, a process spanning nearly a decade that has fundamentally reshaped over a thousand beloved local spots.

The final chapter of this extensive takeover closed in April 2024, when 7-Eleven officially acquired the remaining 204 Stripes convenience stores and their popular Laredo Taco Company restaurants. This last tranche of stores, primarily located across West Texas, New Mexico, and Oklahoma, was purchased from Sunoco LP for approximately $1 billion. With this completion, 7-Eleven now holds full ownership of all Stripes and Laredo Taco Company locations across the United States, bringing the total absorbed stores to roughly 1,300.

The integration of these 204 stores was completed in May 2026, marking the full operational alignment of the entire acquired network. While many locations still sport their original Stripes exterior signage, their interiors have been systematically rebuilt to align with 7-Eleven's operational systems, product offerings, and brand standards, making the transition a measured internal overhaul rather than a flashy rebranding.

The story of Stripes Convenience Stores began in 1938 when Sam and Minna Susser established a small grocery operation in Corpus Christi, Texas, which remained the company's headquarters. Over decades, Stripes grew into a prominent Southwest retailer, known for its strong community ties and loyal customer base. The chain’s journey toward its current ownership began in August 2014, when Energy Transfer Partners (ETP) acquired Susser Holdings Corporation, Stripes’ parent company, for approximately $1.8 billion. At that time, Stripes operated 580 stores across Texas, New Mexico, and Oklahoma. Just a year later, in July 2015, Susser Holdings Corp. was transferred to Sunoco LP by Energy Transfer Partners for about $1.94 billion, with the Stripes convenience stores forming the core of Sunoco’s retail operations.

A major shift occurred in April 2017. Seven & i Holdings Co., the Tokyo-based parent company of 7-Eleven, announced its intention to acquire over 1,000 gas stations and convenience stores, including a significant portion of Stripes locations, from Sunoco LP for $3.3 billion. By late 2017, 7-Eleven had purchased 1,108 stores from Sunoco across 18 states, a deal that encompassed most of the existing Stripes stores. This substantial acquisition did not proceed without regulatory oversight. The Federal Trade Commission (FTC) scrutinized the deal, raising concerns that it could potentially harm competition in 76 local markets spanning 20 metropolitan statistical areas. To address these concerns, the FTC approved the transaction under specific conditions, mandating that 7-Eleven sell 26 retail fuel outlets back to Sunoco and that Sunoco retain 33 fuel outlets it would have otherwise divested. These retained and reacquired stations were subsequently converted from company-operated sites to commission agent sites.

In January 2018, 7-Eleven officially commenced the acquisition of Stripes stores in Texas and Louisiana, a move that included over 1,000 locations and integrated the popular Laredo Taco Company into its portfolio. Following this, in April 2018, Sunoco established Cal's Convenience Inc. to operate its remaining Stripes convenience stores as a commission agent.

Joe DePinto, who served as CEO of 7-Eleven Inc. since 2005, played a pivotal role in orchestrating these extensive acquisitions. A graduate of the United States Military Academy at West Point, DePinto’s career prior to 7-Eleven included executive roles at Thornton Quick Cafe & Market, PepsiCo Inc., and GameStop Corporation. He is known for his "servant leadership" management style and was honored as CSP's Retail Leader of the Year in 2011. Commenting on the full acquisition, DePinto stated, "Stripes and Laredo Taco Company have been a great addition to our family of brands since they first joined us back in 2018. That deal provided us a valuable brand to grow our restaurant offering." He further expressed excitement, adding, "We're excited to welcome the remaining Stripes stores and Laredo Taco Company restaurants to the family, and we look forward to serving customers across West Texas, New Mexico, and Oklahoma." Reflecting on the initial 2017 acquisition, DePinto had noted, "This acquisition supports our growth strategy in key geographic areas, including Florida, the mid-Atlantic states, the Northeast states, and Central Texas."

His appointment as CEO was met with praise from Toshifumi Suzuki, former chairman and CEO of Seven-Eleven Japan Co., who remarked, "Joe's proven ability to drive results will be an advantage for 7-Eleven as we continue to improve our operations. He knows our business and strategies well. With Joe's background in marketing, merchandising, and operations and his demonstrated focus on customer service and satisfaction, he will provide excellent leadership for the next phase of our growth." DePinto is scheduled to retire as CEO of 7-Eleven Inc. at the close of 2025. Stanley Reynolds and Douglas Rosencrans have been named interim co-CEOs to manage the transition. Stephen Hayes Dacus, president and CEO of Seven & i, publicly thanked DePinto for his service, acknowledging that he "led the significant expansion of the group's international and U.S. store network and its digital and logistics transformation, helping grow 7-Eleven into the world's largest c-store chain."

This long-term strategy of acquisition and integration underscores 7-Eleven’s aggressive pursuit of market dominance in the convenience store sector. By systematically absorbing a well-established regional player like Stripes, 7-Eleven not only expands its geographical footprint significantly, particularly in the Southwest, but also strategically enhances its food service offerings with the popular Laredo Taco Company. The methodical, multi-stage acquisition process, spanning from 2014 to 2024, demonstrates a patient yet relentless approach to corporate expansion, consolidating control over a vast network of retail points. This move further solidifies 7-Eleven's position as a global leader, building on its reputation for widespread accessibility and consistent brand experience.

As 7-Eleven prepares for a leadership transition with Joe DePinto's upcoming retirement, the company's strategic direction remains clear: continued growth and integration. The full absorption of Stripes stands as a testament to this strategy, ensuring that while the exteriors may sometimes tell a different story, the underlying operations are firmly aligned with the world's largest convenience store chain.