The 7-Eleven convenience store chain has acquired certain distribution assets from Wallace & Carey to bring the food distributor out of bankruptcy.

The assets are located in B.C. and Alberta, 7-Eleven said in a news release. In addition, 7-Eleven will provide a transition service agreement to purchase exclusively from W&C, acquire its lease facilities and furnish the distributor with working capital.

“This transaction positions 7-Eleven well for continued growth in Canada, strengthening our already robust business in the country, and bringing with it a range of long-term benefits for our stores by stabilizing our supply chain” said Marc Goodman, 7-Eleven Canada’s vice president and general manager. “We feel confident that this acquisition will bring the maximum quality of service to our stores so that we can continue to serve our customers at the highest level.”

Century-old W&C and its parent Carey Management filed for bankruptcy protection in June. Irving, Tex.-based 7-Eleven operates, franchises and licenses about 13,000 stores in Canada and the U.S.

Photo: Wallace & Carey