The assets include company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.
TETCO operates in the state of Texas besides Alabama, Arizona, Colorado, Illinois, Louisiana, New Mexico, Oklahoma and Utah.
7-Eleven will remodel and rebrand the acquired stores with the transaction is expected to close in November 2012.
The acquisition marks the return of the convenience retailer to San Antonio, where the company had operated stores until 1989.
The retailer will also acquire TETCO’s motor fuel wholesale business.
7-Eleven executive vice president and CFO Stan Reynolds said that the combination of TETCO’s retail and wholesale operations will make it 7-Eleven’s largest acquisition since the company accelerated on its growth plan four years ago.
"We fully expect to retain and build this wholesale business, as an integral part of our overall growth strategy," Reynolds added.
7-Eleven offers hot foods and signature products like 7-Select private brand, 7-Eleven coffee, Big Bite hot dogs, Slurpee and Big Gulpdrinks.
The company had acquired 188 store Wilson Farms and 183 sites from ExxonMobil in Florida in 2011 and expects to open at least 630 new stores in US and Canada before the end of 2012.
Owned by Japan’s Seven & I Holdings, 7-Eleven currently operates more than 46,000 outlets globally.