Eleven, Inc.
FOR IMMEDIATE RELEASE
7-Eleven, Inc. Extends Contract With Mclane Company As Key Supplier To U.S. Stores
DALLAS, TEXAS - (April 13, 2005): - Leading convenience retailer 7-Eleven, Inc. (NYSE: SE) has signed an amendment with McLane Company, Inc. that extends the service agreement to supply 5,300 U.S. 7-Eleven® stores for an additional two years. The existing service agreement is due to expire Jan. 31, 2006, and the amendment will extend the agreement through Jan. 31, 2008.
7-Eleven and McLane were able to negotiate terms that will provide enhanced benefits and improved service to 7-Eleven’s stores, including requirements designed to improve on-time deliveries and in-stock levels to satisfy 7-Eleven’s customers. Committed to its business philosophies of retailer initiative and item-by-item management, 7-Eleven wanted a partner willing to redefine the standard distribution model, according to David Podeschi, senior vice president of merchandising for 7-Eleven, Inc.
“7-Eleven’s extensive store base presents a unique challenge in terms of delivery of items,” Podeschi said. “McLane has a solid, long-standing track record with us, and has demonstrated the willingness to explore new logistics approaches to improve retailer initiative, our company’s approach to retailing,” he added.
“McLane Company has enjoyed a relationship with 7-Eleven that dates back to 1975, and we are excited to be chosen to continue this opportunity to service their stores, “ said Terry McElroy, president of McLane Grocery Distribution. “7-Eleven has defined one of the most efficient models for distribution, and the McLane teammates are proud to continue to be associated with their success.”
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Headquartered in Dallas, Texas, 7-Eleven, Inc. operates or franchises approximately 5,800 7-Eleven® stores in the United States and Canada and licenses approximately 22,000 7-Eleven stores in 17 other countries and U.S. territories throughout the world. During 2004, 7-Eleven stores worldwide generated total sales of more than $41 billion. Find out more online at www.7-Eleven.com.
About McLane Company, Inc.
McLane Company, Inc. provides distribution services to multiple industries throughout the United States. A wholly owned subsidiary of Berkshire Hathaway, Inc., McLane delivers food and non-food products to more than 50,000 customer locations around the world – including the convenience store, drug store, mass merchandise, wholesale club, quick service restaurant, and movie theater industries. Headquartered in Temple, Texas, the company operates 18 grocery divisions and 18 foodservice distribution centers, and an industry-specific software company. McLane employs more than 14,000 people in the United States. In the international market, McLane operates several distribution centers, providing third party logistics services to large multi-national companies; as well as providing traffic management and control functions for these clients
This release includes certain statements that are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that is not a statement of historical fact should be deemed to be a forward-looking statement. Because these forward-looking statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. There can be no assurance that (i) we have correctly measured or identified all of the factors affecting our business or the extent of their likely impact; (ii) the publicly available information with respect to those factors on which our business analysis is based is complete or accurate; (iii) our analysis is correct; or (iv) our strategy, which is based in part on this analysis, will be successful. Additional information about these risks and uncertainties and other matters can be found in the company’s annual report on Form 10-K for the year ended Dec. 31, 2003, and in its periodic reports on Form 10-Q and current reports on Form 8-K.
