7-Eleven acquires Chicago-based White Hen chain
Friday, August 11, 2006
WHP Holdings Corp., the parent company of White Hen Pantry, has been acquired by Tokyo based Seven & I Holdings Co. for $35 million from New York investment firm, Angelo, Gordon & Co. White Hen has previously declared bankruptcy. Seven & I is the owner and operator of the 7-Eleven convenience store chain. This is the largest buyout for the 7-Eleven brand in two decades and signals a continuance of the expansion Seven & I has pursued in recent years.
"This acquisition is a strategic fit for 7-Eleven and enhances market presence in the Chicagoland area," said 7-Eleven Inc. President and Chief Executive Joseph DePinto. The addition of White Hen stores will allow the company to increase their presence in greater Boston (55 stores) and metropolitan Chicago (206 stores) bringing their North American store count to over 7,100.
Sources
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- "7-Eleven agrees to acquire convenience store chain" — The Boston Globe, August 11, 2006
- "Seven & I buys U.S. convenience store White Hen" — Reuters, August 11, 2006
- "7-Eleven runs out and buys 261-store White Hen chain" — Chicago Tribune, August 11, 2006
- Press Release: "Notice concerning the acquisition of the stock of WHP Holdings Corporation" — Seven & I Holdings Co., August 10, 2006
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