Seven-Eleven better known as 7 Eleven Inc, is one of the most well-known convenience stores around the world. Known to many as the creator of the original Slurpee drink, they are now in the crosshairs of the Federal Trade Commission.
Having more than 70,000 locations worldwide in more than twelve different countries, the company has become a bit of a behemoth when it comes to providing one-stop-shop retail experiences for it's customers.
According to research, the company has violated multiple antitrust statutes which forced the Federal Trade Commission to crackdown on the amount of locations that they owned. This stemmed from a purchase of the Speedway franchise, a subdiary of Marathon Inc, that allowed them to acquire more than 250 stores nationwide.
The resulting sale gave them the resources and ability to create a monopoly around fuel and oil sales in 292 markets .The following states were affected by the unfair competition that stood in the way of equal profits :
- Arizona
- Florida
- California
- Indiana
- Kentucky
- Masachusetts
- South Carolina
- Utah
- Tennessee
- Virginia
- Michigan
- Rhode Island
- Pennsylvania
- Florida
The penalty for the violation of antitrust laws stemming from the operation was passed down via a final order to divest nearly three hundred locations, which will be sold to various fuel outlets including Anabi Oil and Cross America Partners. Approval of the final order was granted two weeks ago after a required commission vote. The order also prevents the company from enforcing non-compete agreements, which wold have prevented current and former employees or relatives there of, from seeking outside employment once sales are final.
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