OREANDA-NEWS. 7-Eleven, Inc. (headquarters: Texas, U.S.; President and Chief Executive Officer, Joseph M. DePinto), a subsidiary of Seven & i Holdings Co., Ltd., signed an agreement to acquire stores from Tedeschi Food Shops, Inc. Details of the agreement are provided below:

1. Purpose of the agreement

7-Eleven, Inc. has been increasing its merchandise capabilities and expanding its store network in North America. This agreement is intended to contribute to higher revenues and profits from convenience store operations in the region. Tedeschi Food Shops, Inc. is based in Boston, Massacheusetts, U.S., where 7-Eleven, Inc. has existing stores, and the agreement will therefore realize synergies between them.

2. Overview of the stores to be acquired

(1) Area: Massachusetts, U.S., etc.
(2) Number of stores: 182 convenience stores

3. Overview of Tedeschi Food Shops, Inc.

(1) Name: Tedeschi Food Shops, Inc.
(2) Representative: President and CEO, Peter D. Tedeschi
(3) Location of headquarters: Massachusetts, U.S.
(4) Major business activities: Operation of convenience store business

4. Schedule of acquisition Handover date of stores (plan): August, 2015

5. Outlook The agreement will have only a minimal effect on the Company's consolidated results for the fiscal year ending February 29, 2016, but the asset purchase is expected to contribute to profits over the medium to long-term.