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Cross Border News  + Alberta & Prairies  + Canada  + Pacific Canada  + Industrial  | 
7-Eleven has acquired certain Wallace & Carey assets.

7-Eleven Acquires Certain Wallace & Carey Assets

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

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Mark GoodmanWallace & Carey

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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